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Daily Option Trading Commentary

Big Market Drop - This News Could Be Why

October 28
Posted 9:30 AM ET - The market has been in a steady decline the last two days and support at the 50-day moving average has been breached. The Coronavirus is spreading and there will not be a stimulus bill before the election. If the SPY closes below the 100-day moving average it will test $320 and perhaps the 200-day moving average. Asset Managers are reducing risk ahead of the election and that is typical. The number of new Coronavirus cases is jumping in the US and in Europe. Major metropolitan areas are steadily restricting activity and most are in Phase…

 

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