The Rally Needs Fuel Posted by Pete Stolcers on January 23 www.oneoption.com Resistance at the all-time high is stiff and buyers are not aggressive. PRE-OPEN MARKET COMMENTS THURSDAY – Yesterday the market was within striking distance of the all-time high, but the SPY didn’t quite get there. That is the benchmark I use because it is continuous relative to /ES … Read More

Post Inauguration Rally Is Underway Posted by Pete Stolcers on January 22 www.oneoption.com The market has broken through a downward sloping trendline and it is within striking distance of the all-time high. PRE-OPEN MARKET COMMENTS WEDNESDAY – My thesis that the market would form a downward sloping trading channel was rejected yesterday when it added to the gains from Friday. … Read More

Critical Market Juncture Posted by Pete Stolcers on January 21 www.oneoption.com Today we’ll be able to gauge the selling pressure. PRE-OPEN MARKET COMMENTS TUESDAY – President Trump was inaugurated and he has been busy signing executive orders. It will take time for his policies to take effect and I believe that this could be a “sell the news” event. The … Read More

Can the Market Breakout? Posted by Pete Stolcers on January 17 www.oneoption.com This morning the SPY is testing the 50-day MA. PRE-OPEN MARKET COMMENTS FRIDAY – This is the move I’ve been waiting for. The market is going to test the 50-day MA this morning and a minor downward sloping trendline. My theory is that we are in a downward … Read More

A Market Short Is Setting Up Posted by Pete Stolcers on January 16 www.oneoption.com Be patient. This is a downward sloping trading channel and we need to see resistance. PREOPEN MARKET COMMENTS THURSDAY – I often tell you that you don’t need to conduct fundamental analysis. Price is truth and all you need is technical analysis. Many people have a … Read More

A Short Will Set-up Soon! Posted by Pete Stolcers on January 15 www.oneoption.com The market is in a downward sloping trading channel. PRE-OPEN MARKET COMMENTS WEDNESDAY – Bull markets die hard. The long-term trend has been higher and buying dips has worked. The pullback to the 100-day MA attracted some buyers Monday and the SPY is back above the 100-day … Read More

This Chart Will Help You Trade This Move Posted by Pete Stolcers on January 14 www.oneoption.com The market is in a downward sloping trading channel and it drives most traders nuts. PRE-OPEN MARKET COMMENTS TUESDAY – The price action we’ve seen during the last few weeks has had a negative bias, but the price action is so dang choppy that … Read More

Don’t Panic! Posted by Pete Stolcers on January 13 www.oneoption.com Stay calm. The market is not going to fall apart overnight. PRE-OPEN MARKET COMMENTS MONDAY – I can sense that some of you have worked yourself into a lather. “Pete’s been bearish and the market is selling off. OMG, I don’t want to miss this move and the SPY is … Read More

I’m Short Into the Jobs Report Posted by Pete Stolcers on January 10 www.oneoption.com This is how I view the odds for a market move lower. PRE-OPEN MARKET COMMENTS FRIDAY – I don’t typically take a stance into a binary news event, but in this case, the evidence is strong in one direction. First of all, I am not talking … Read More

No Market Bounce Signals Selling Posted by Pete Stolcers on January 08 www.oneoption.com The market was not able to recover from the Fed drop in Dec. This is a sign of profit taking. PRE-OPEN MARKET COMMENTS WEDNESDAY – Year-end rallies are the norm and when they fail to produce, it’s a warning sign. The drop from the last FOMC has … Read More