Daily Commentary: 1Option

eOption1Option Commentary

FOMC Statement Could Spook Investors – Tech Stocks Are Vulnerable Yesterday tech stocks continued to power higher in anticipation of a good number from Apple. That optimism will start to wane after Facebook announces after the close today. The QQQ has been making new all-time highs for over a week and it is strong relative to the SPY. Bullish speculators … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Bullish Speculators Will Get Flushed Out Soon – Apple Earnings After the Close I believe we are seeing the final leg of this rally. Tech stocks are leading the charge and optimism is high ahead of Apple’s earnings after the close today. Facebook will announce after the close Wednesday. Bullish speculators will get flushed out of tech stocks and we … Read More

Daily Commentary: 1Option

eOption1Option Commentary

One More Push Higher – Take Profits On Bullish Trades Before FOMC Last Monday and Tuesday the market surged and we had the best two days since November. The S&P 500 is within striking distance of the all-time high and we could challenge it this week. Good news is priced in and resistance at the all-time high will be stiff. Tech giants … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Selling Pressure Will Build After Next Week – Expect Some Profit Taking Yesterday the QQQ soared to a new all-time high while the S&P 500 treaded water. Tech stocks marched higher ahead of earnings from Google, Amazon, Intel and Microsoft. Good news was priced in and any surprise favored the downside. The overnight price action has been stable and the reaction … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Earnings After Close Need To Be Incredible For New SPY High In yesterday’s comments I mentioned that stocks were likely to pullback after Trump’s press conference. His content was good, but the early gains were erased. After the biggest two day rally since November the market needed a breather. Earnings after the close today will be critical. Google, Amazon, Intel and Microsoft … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Good News Is Priced In – Look For Profit Taking After Trump’s Speech Today Yesterday the market shot higher and the Dow posted its largest two-day gain since November. Rumor has it that a hedge fund was caught short and they were squeezed. That might’ve contributed to the move, but good earnings and Trump’s tax reform speech today provided most … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Nice Earnings Rally – Good News Is Priced In and Headwinds Will Blow Yesterday the market shot higher after the French election results. Stocks were able to hold gains throughout the day and that is a positive sign. Earnings season is in high gear and Thursday will be a very important day. For the time being the focus is on … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Here’s The Rally – Market Will Try To Hold Gains – Big Day Friday This is going to be a busy week. I’ve been telling you to get long for the last week and that advice is paying off. The market has been choppy, but it has been moving higher. This morning the S&P 500 is up 25 points before … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Surged Through The 50-Day MA – Stocks Will Float Higher Next Week Yesterday the market treaded cautiously for the first hour. The opening gains held and buyers started to nibble. Once the S&P 500 made a new high for the day we were off to the races. The market finished above the 50-day moving average and the bid looks … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Headwind During Bullish Period Could Be A Warning The market is fighting a stiff headwind. Typically stocks rally as earning season begins. Yesterday stocks rallied on the open and they drifted lower the rest of the day. The price action was bearish and I don’t trust the early rally this morning. Earnings season is in full bloom and in … Read More