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Daily Option Trading Commentary

Market Continues To Climb - Here Is My Target - Watch For This Warning Sign

April 16
Posted 9:30 AM ET - The S&P 500 continues to float higher on light volume. Buyers are not chasing, but they are gobbling up shares on every dip. Sellers are not very aggressive either. They are passively offering stock at higher levels and in general they are not hitting bids. The market is broken through the upper trend line and prices are getting a little stretched. This is a good time to scale out of bullish positions so set some targets. I believe that the SPY is headed for $420 in the next few days. From the low three weeks…


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