Housing Starts and Initial Claims Improve. The News Won’t Break Us Out of This Range
Yesterday, the market gaped higher and it spent the rest of the day giving back those gains. By the end of the day we slipped into negative territory. Stocks are bumping up against major resistance and there is selling pressure at the SPY 137 level. In the grand scheme of things, this mini selloff doesn't mean much. The news calendar is very light and traders are searching for anything they can latch onto. European credit concerns have subsided, but conditions can deteriorate at any time. The ECB will provide another massive liquidity injection in two weeks and that should support upcoming …
February 16, 2012
• Posted in: Options
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