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
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
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
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
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
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
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
Daily Commentary: April 06, 2022
Market Was At A Critical Point Yesterday – Now We Know the Answer Posted by Pete Stolcers on April 06 www.1option.com From a technical standpoint yesterday was a critical juncture. The market would either confirm a bullish flag formation or it would confirm the downward sloping trendline off of the recent high. The price action turned ugly after comments … Read More
Daily Commentary: April 05, 2022
Market Will Try To Confirm This Technical Pattern Posted by Pete Stolcers on April 05 www.1option.com The market has been strong since the FOMC statement in March. It has rallied above the major moving averages and it has been able to hold those levels. Last week we saw a round of profit taking that ended very quickly and that … Read More
Daily Commentary: April 01, 2022
Watch The Market Bounce This Morning – Here’s What To Look For Posted by Pete Stolcers on April 01 www.1option.com Yesterday we saw a swift round of profit taking that tested the 100-day MA. Light volume rallies are vulnerable and we should expect that after a 400 point S&P 500 rally in the last few weeks. If the market … Read More