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

Daily Commentary: April 06, 2022

Jeremy Engelbrecht1Option Commentary

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

Jeremy Engelbrecht1Option Commentary

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

Jeremy Engelbrecht1Option Commentary

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

Daily Commentary: March 31, 2022

Jeremy Engelbrecht1Option Commentary

Watch For A Dull Trading Day Ahead of the Jobs Report Posted by Pete Stolcers on March 31 www.1option.com   Yesterday the S&P 500 took a breather after a 400 point run since the FOMC statement. The rally has come on light volume and that makes it vulnerable to profit taking. The March Fed rate hike means nothing. Bond yields … Read More

Daily Commentary: March 28, 2022

Jeremy Engelbrecht1Option Commentary

Day Traders Wait For Dips – Don’t Chase the Market Posted by Pete Stolcers on March 28 www.1option.com   Last week the S&P 500 closed firmly above the 200-day MA and tech stocks were particularly strong. I believe that end of month fund buying and earnings season in two weeks will keep buyers engaged. The issues plaguing the market (inflation, … Read More

Daily Commentary: March 25, 2022

Jeremy Engelbrecht1Option Commentary

Market Bid Should Be Good For A Few Weeks – Don’t Overstay Your Welcome Posted by Pete Stolcers on March 25 www.1option.com   Yesterday the S&P 500 closed firmly above the 200-day MA and tech stocks were particularly strong. That bodes well for more upside today and perhaps for the next few weeks. The issues plaguing the market (inflation, Fed … Read More