The first five days of trading for January were bearish as the Fed’s meeting minutes did little to help the bulls dig out of their hole. There was a little volatility ahead and after the late day news as the zombies expressed confidence in the economy’s continuing improvement and was the main reason they started to taper now rather than later. However, they also said they could increase quantitative easing, if needed, or continue with cuts, or stand pat.
The major indexes were just as confused but support held and resistance was pushed as the current 3-week trading range continues. (continued…)
Tags: option trading