Daily Commentary: May 21, 2024

Auto Post1Option Commentary

The 2 Week Market Game Plan Posted by Pete Stolcers on May 21 www.oneoption.com Here’s the game plan for the next two weeks. PRE-OPEN MARKET COMMENTS TUESDAY – The drop in JPM yesterday rattled the entire financial sector. If the market is going to grind higher, that bleeding needs to stop today. The market won’t be able to move higher if that … Read More

Daily Commentary: May 20, 2024

Auto Post1Option Commentary

Your 2 Week Market Game Plan Posted by Pete Stolcers on May 20 www.oneoption.com Here’s what I expect the market to do for the next couple of weeks. PRE-OPEN MARKET COMMENTS MONDAY – Overseas markets were up marginally overnight. The fact that the market did not retrace much after the breakout Wednesday is a bullish sign. We still could see … Read More

Daily Commentary: May 15, 2024

Auto Post1Option Commentary

Inflation Slowing – Don’t Chase This Gap Up Posted by Pete Stolcers on May 15 www.oneoption.com The S&P 500 traded to a new all-time high after the CPI was released. Be careful. PRE-OPEN MARKET COMMENTS WEDNESDAY – We expected a big market rally in November and we rode that move hard through March. The market momentum waned and we took … Read More

Daily Commentary: May 14, 2024

Auto Post1Option Commentary

PPI “Hotter” Than Expected Posted by Pete Stolcers on May 14 www.oneoption.com This morning the producer price index rose .5% and that is well above the .3% that was expected. PRE-OPEN MARKET COMMENTS TUESDAY – The big news this week will be the inflation readings from PPI and CPI. It will determine the latitude (if any) the Fed has to … Read More

Daily Commentary: May 13, 2024

Auto Post1Option Commentary

New All-time High In Sight Posted by Pete Stolcers on May 13 www.oneoption.com After a normal pullback in a bull market, the S&P 500 is within striking distance of the all-time high. The inflation numbers this week will be important. PRE-OPEN MARKET COMMENTS MONDAY – The market bounce the last few weeks has been tenuous and we are looking for … Read More

Daily Commentary: May 10, 2024

Auto Post1Option Commentary

We Have Market Confirmation Posted by Pete Stolcers on May 10 www.oneoption.com The market got through the high of the week and that is the confirmation we needed. Now the market is within striking distance of the all-time high. PRE-OPEN MARKET COMMENTS FRIDAY – We got a warning on April 4th and the market served up a giant bearish engulfing … Read More

Daily Commentary: May 09, 2024

Auto Post1Option Commentary

Trade What You See Posted by Pete Stolcers on May 09 www.oneoption.com Often times traders are influenced by the news and by what they think it means. Just follow price. PRE-OPEN MARKET COMMENTS THURSDAY – The market broke through key resistance at the 50-day MA and AVWAPQ this week. We need to see follow through buying the next two days … Read More

Daily Commentary: May 08, 2024

Auto Post1Option Commentary

Market Needs Follow Through Posted by Pete Stolcers on May 08 www.oneoption.com The breakout above the 50-day MA is meaningless without follow through. We need to see that by the end of the week. PRE-OPEN MARKET COMMENTS WEDNESDAY – We have the SPY breakout through AVWAPQ and the 50-day MA, but the move came on light volume. Earnings season has … Read More

Daily Commentary: May 03, 2024

Auto Post1Option Commentary

Market Likes the Jobs Number Posted by Pete Stolcers on May 03 www.oneoption.com The S&P 500 will open 60 points higher after earnings from Apple and a “Goldilocks” jobs report. PRE-OPEN MARKET COMMENTS FRIDAY – The market has been wedged between the 100-day MA and the 50-day MA and it has been waiting for a catalyst. Earnings season is in … Read More

Daily Commentary: May 02, 2024

Auto Post1Option Commentary

Fed Reaction Muted Posted by Pete Stolcers on May 02 www.oneoption.com The reaction to yesterday’s FOMC statement has not produced much of a net move. PRE-OPEN MARKET COMMENTS THURSDAY – Yesterday the Fed reduced its quantitative tightening (QT) by more than half and it now sits at $25B per month from $60B per month. That is a form of easing, … Read More