FOMC Statement Today Posted by Pete Stolcers on March 19 www.oneoption.com I am expecting “dovish” Fed comments, but that doesn’t mean the market will rally. PRE-OPEN MARKET COMMENTS FED-DAY – The market drop the last month is over-extended, but that does not mean that it can’t go lower. I have been watching for signs of buying the last two days … Read More

Fed Needs To Be Dovish Posted by Pete Stolcers on March 18 www.oneoption.com The market has seen heavy selling pressure the last month and Powell needs to provide a safety net. PRE-OPEN MARKET COMMENTS TUESDAY – The selling pressure has been heavy the last few weeks and the bounce off of the low has been unimpressive. The price action is … Read More

Market Bounce Likely Posted by Pete Stolcers on March 17 www.oneoption.com My longer-term outlook is still bearish, but a bounce is coming. PRE-OPEN MARKET COMMENTS MONDAY – From a technical standpoint we don’t have any evidence that a bounce is coming other than a deeply oversold condition. VXX/VIX has hit a technical resistance level that has corresponded with previous bounces. … Read More

This Bounce Needs To Hold Posted by Pete Stolcers on March 14 www.oneoption.com This morning the market is gapping higher from a deep sell-off yesterday. PRE-OPEN MARKET COMMENTS FRIDAY – In the last few weeks every market bounce has been a great entry point for shorts. It didn’t matter if the bounce came overnight or during the day. The bounce … Read More

Market Should Bounce Posted by Pete Stolcers on March 13 www.oneoption.com After a big decline and multiple tests of support the market should be able to bounce on good inflation numbers. PRE-OPEN MARKET COMMENTS THURSDAY – The market finally rolled over and the selling pressure has been heavy. Option implied volatilities spiked and VIX hit a resistance level that is … Read More

Inflation Subsides – Watch This Bounce Posted by Pete Stolcers on March 12 www.oneoption.com The market needed some good news to stop the bleeding and it got it today. PRE-OPEN MARKET COMMENTS WEDNESDAY – The market decline has been steep and swift. The selling pressure has been strong and the first deep drop like this after a bullish market tends … Read More

No Market Bounce Until This Posted by Pete Stolcers on March 11 www.oneoption.com The market has fallen hard and fast. We need to establish a hard low early in the day. PRE-OPEN MARKET COMMENTS TUESDAY – Now the market has revealed its “true colors”. The selling pressure has been heavy and the bull market is transitioning. Buyers have been conditioned … Read More

Job Growth Better Than Feared Posted by Pete Stolcers on March 07 www.oneoption.com Today we’ll see if the number was good enough to excite buyers at a major support level. PRE-OPEN MARKET COMMENTS FRIDAY – This week the selling pressure has continued. Yesterday the market broke below the 200-day MA and it’s lost 7.5% in the last few weeks. The … Read More

The ECB Is Concerned Posted by Pete Stolcers on March 06 www.oneoption.com This morning the ECB cut rates by 25 basis points. They are “meaningfully less restrictive”. PRE-OPEN MARKET COMMENTS THURSDAY – Many traders are confused by the notion of “bad news is good news”. In the early stages of economic weakness the Fed will cut rates to stimulate job … Read More

Fewer Jobs – More Bad News Posted by Pete Stolcers on March 05 www.oneoption.com The bad news is mounting and the 200-day MA is within striking distance. PRE-OPEN MARKET COMMENTS WEDNESDAY – Now the selling pressure is becoming more sustained. The market is spending more time below the 100-day MA and it almost touched the 200-day MA yesterday. The negative … Read More