Intermediate Trade: SPDR S&P 500 ETF

What changed? Brexit polling inched toward "stay," and a British Member of Parliament was assassinated. Time to buy the market. While I still think that eventually the market will rally out of this, and rally hard, I do not believe that is going to be the rest of the day today, tomorrow, Wednesday or Thursday.

I would be a fader of this rally and would be taking money off the table. I am actually looking at SPX term structure (how different contract durations relate to one another) and one can clearly see that that the June 24 contract has a 20% implied volatility (IV) and July is less than 15%. There is still embedded fear and it should be traded....30 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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