General Options Blog

Tuesday Leaf Blower

 

A pile of leaves, in the form of a massive two week stock market rally, has concealed a road with many cracks.  Cracks that may continue to widen.  Are we out of the woods yet?  Or is this market setting up for a nasty fall?

Yesterday the stock market continued its strong showing, posting a modest gain at the closing bell.  The overnight session, however, has seen those gains evaporate and turn into losses.

We are nearing key support levels, the first being the 2,000 S&P500 futures figure that held on Friday.  Next up is the resistance that was capping the recovery from the August crash.

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