Daily Commentary: May 17, 2022

Jeremy Engelbrecht1Option Commentary

Nice Overnight Market Bounce – Lot’s of “Fed Speak” Today Posted by Pete Stolcers on May 17 www.1option.com   PRE-OPEN MARKET COMMENTS TUESDAY – The S&P 500 was able to hold onto gains from Friday during yesterday’s session. That has attracted buyers this morning and the S&P 500 is up 60points before the open. It will clear a horizontal resistance … Read More

Daily Commentary: May 09, 2022

Jeremy Engelbrecht1Option Commentary

Market Price Action Is Bearish – Not Likely To Improve Until Fall Posted by Pete Stolcers on May 09 www.1option.com   Last week we were focused on the reaction to the FOMC statement and a relief rally off of the low of the year was likely. In March the SPY started to bounce before the statement and that was a … Read More

Daily Commentary: May 05, 2022

Jeremy Engelbrecht1Option Commentary

FOMC Bounce Was Only A Bounce – Here’s the “Tell” Posted by Pete Stolcers on May 05 www.1option.com   Yesterday the market was bracing for the worst possible news from the Fed. Their intentions have been clear and they delivered. The table was set for an oversold bounce off of the lows for 2022 and buyers fueled a nice rally … Read More

Daily Commentary: May 04, 2022

Jeremy Engelbrecht1Option Commentary

Fed-Day – Market More Likely To Bounce Than Tank – Let’s See Posted by Pete Stolcers on May 04 www.1option.com PRE-OPEN MARKET COMMENTS FED-DAY – I am expecting a relief bounce after the FOMC statement. Notice that I used the word bounce, not rally. I have noticed some subtle changes between the price action in March and the price action … Read More

Daily Commentary: May 02, 2022

Jeremy Engelbrecht1Option Commentary

This Is What I Am Expecting After the FOMC This Week Posted by Pete Stolcers on May 02 www.1option.com   We are likely to see nervous jitters for a few more days and then I am expecting a relief bounce after the FOMC statement. Notice that I used the word bounce, not rally. There are still many unresolved issues that … Read More

Daily Commentary: April 28, 2022

Jeremy Engelbrecht1Option Commentary

If the Market Is Going To Bounce It Needs This! Posted by Pete Stolcers on April 28 www.1option.com   Next Wednesday the Fed is expected to hike interest rates by 50 basis points. Even more concerning is the fact that their rhetoric is likely to reflect another 50 basis point hike in June. This is casting a dark cloud over … Read More

Daily Commentary: April 26, 2022

Jeremy Engelbrecht1Option Commentary

Dull Market Likely Today – Earnings and Guidance Will Determine Direction Posted by Pete Stolcers on April 26 www.1option.com   Yesterday the market found support after a very heavy round of selling where the S&P 500 lost 300 points from the open Thursday. The index is below all of the major moving averages and earnings/guidance will determine if support will … Read More

Daily Commentary: April 21, 2022

Jeremy Engelbrecht1Option Commentary

THIS IS WHAT THE MARKET HAS TO DO TODAY Posted by Pete Stolcers on April 21 www.1option.com   PRE-OPEN MARKET COMMENTS THURSDAY – Stocks posted solid gains Tuesday. The S&P 500 closed on its high of the day and above its 50-day MA. Traders digested gains and the market treaded water ahead of major announcements Wednesday. TSLA posted solid results … Read More

Daily Commentary: April 20, 2022

Jeremy Engelbrecht1Option Commentary

Market Needs To Do This To Make Me A Believer Posted by Pete Stolcers on April 20 www.1option.com   PRE-OPEN MARKET COMMENTS WEDNESDAY – Yesterday the market posted solid gains and it rallied above the 50-day MA. The buying started right from the open and it was not a news related rally. That means that everyone had a chance to … Read More

Daily Commentary: April 18, 2022

Jeremy Engelbrecht1Option Commentary

Watch For Market Support Into Earnings Season Posted by Pete Stolcers on April 18 www.1option.com   Last week the market was bipolar. We saw big drops one day and big rebounds the next. Longer term swing traders with a 3-4 week trade duration should avoid this nonsense. The S&P 500 is below the 50,100 and 200 day MAs. I am … Read More