Todd Gordon of TradingAnalysis.com takes a look at the SPY in today's market analysis.
The stock indexes are selling off for two main reasons. First, the reality of higher interests is starting to set in. The market has been drinking heavily from the Fed's liquidity punch bowl. Is the party over and the hangover about to set in? Second, we are failing at a confluence of Fibonacci and Elliott Wave resistance. Here's how we're trading it with options.
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Plan Your Trade, and Trade Your Plan,
Todd Gordon
