Watch For A Retest Next Week Posted by Pete Stolcers on May 15 www.oneoption.com When the market breaks through a technical resistance level it often tests that level soon after the breakout. PRE-OPEN MARKET COMMENTS THURSDAY – It’s hard not to get caught up in all of the excitement when the market breaks out. This was a substantial move with … Read More

Market Holding Gains Posted by Pete Stolcers on May 14 www.oneoption.com The calendar is light and there is nothing to stand in the way of the rally. PRE-OPEN MARKET COMMENTS WEDNESDAY – Market surprises yield big reactions. Heading into the weekend China and the US were exchanging harsh rhetoric and the fact that they were meeting was a step in … Read More

Massive Gains Are Holding Posted by Pete Stolcers on May 13 www.oneoption.com The market staged an impressive rally after the Chinese trade agreement. PRE-OPEN MARKET COMMENTS TUESDAY – Yesterday the S&P 500 surged almost 200 points higher after a trade deal with China was announced. The tariffs will be reduced to 30% from 145% and China will also lower its … Read More

We Needed This Movement Posted by Pete Stolcers on May 12 www.oneoption.com The market didn’t budge during a heavy round of news and it was stuck. Today we are getting a breakout. PRE-OPEN MARKET COMMENTS MONDAY – The market was waiting for news from the Chinese trade talks and the outcome was much better than feared. Trump had mentioned that … Read More

The Market Is Trapped Posted by Pete Stolcers on May 09 www.oneoption.com Major news the last two weeks has not sparked a move either way. PRE-OPEN MARKET COMMENTS FRIDAY – The daily chart of the SPY tell us all we need to know. After a heavy news cycle (mega cap tech earnings, the jobs report and the FOMC statement) the … Read More

UK Trade Deal Sparks Rally Posted by Pete Stolcers on May 08 www.oneoption.com We knew that this news was pending and we should hear of more deals in the next few weeks. PRE-OPEN MARKET COMMENTS THURSDAY – The trade details with the UK are still sketchy, and they agreed on a framework for a deal. The 10% tariff base is … Read More

Fed-Day Reaction Might Be Small Posted by Pete Stolcers on May 07 www.oneoption.com The market is not expecting a rate cut today so we are likely to hear the same rhetoric. PRE-OPEN MARKET COMMENTS FED-DAY – The market staged a nice bounce from deeply oversold conditions a few weeks ago, but the upward momentum has stalled below major resistance. The … Read More

Signs of Resistance Posted by Pete Stolcers on May 06 www.oneoption.com The market has bounced to a key resistance level and I will be watching for signs of strain. PRE-OPEN MARKET COMMENTS TUESDAY – The market bounced from deeply oversold conditions the last two weeks and it has reached a critical price point at the 200-day MA. The decline this … Read More

Wait and Watch Posted by Pete Stolcers on May 05 www.oneoption.com The market has bounced from its low to major resistance areas. Let’s see if they hold. PRE-OPEN MARKET COMMENTS MONDAY – In the last two weeks earnings reactions and better than feared economic releases have fueled the market bounce. Tariffs have not impacted Q1 earnings because the 10% baseline … Read More

Employment Remains Strong Posted by Pete Stolcers on May 02 www.oneoption.com This morning the jobs report reported that 177K new jobs were created in April and that was better than expected. PRE-OPEN MARKET COMMENTS FRIDAY – Overnight we got two major earnings announcements, a sign that China might be ready to negotiate a trade deal and a better than expected … Read More