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
Daily Commentary: January 13, 2025
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
Daily Commentary: January 10, 2025
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
Daily Commentary: January 08, 2025
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
Daily Commentary: January 07, 2025
ISM Services After the Open Posted by Pete Stolcers on January 07 www.oneoption.com The market is trying to bounce off of support. PRE-OPEN MARKET COMMENTS TUESDAY – The market was able to rally above the 50-day MA yesterday on light volume. In my opinion, that was not a strong show of force by buyers. The M5 candles on the way … Read More
Daily Commentary: January 06, 2025
Market Bounce Ahead of News Posted by Pete Stolcers on January 06 www.oneoption.com This morning the market is staging a nice bounce above the 50-day MA. PRE-OPEN MARKET COMMENTS MONDAY – This morning the S&P 500 is surging 45 points higher. It found support last week and it tested that level a second time at SPY $580. There hasn’t been … Read More
Daily Commentary: January 03, 2025
Market Likely To Test 100-day MA Posted by Pete Stolcers on January 03 www.oneoption.com The S&P 500 has had four consecutive lower closes. PRE-OPEN MARKET COMMENTS FRIDAY – In the last few days, the market has not been able to challenge the 50-day MA or AVWAPQ. It is getting comfortable below those support levels and the longer it stays below … Read More
Daily Commentary: January 02, 2025
A Fresh New Start Posted by Pete Stolcers on January 02 www.oneoption.com Be patient and wait for your set-ups. Build on your success. PRE-OPEN MARKET COMMENTS THURSDAY – The first trading day of the year is going to start off with a bang and the futures are up. Be patient and make the first trade of the year a winner. … Read More
Daily Commentary: December 31, 2024
Fasten Your Seat Belts In 2025 Posted by Pete Stolcers on December 31 www.oneoption.com Prepare for a bumpy ride. PRE-OPEN MARKET COMMENTS THE LAST DAY OF THE YEAR – The last year has been great for us. We were as bullish as we could be a year ago and we rode this move hard. We took massive gains during the … Read More
Daily Commentary: December 30, 2024
Selling Into Year End Posted by Pete Stolcers on December 30 www.oneoption.com This is why we are in cash. It’s a time for observation. PRE-OPEN MARKET COMMENTS MONDAY – I’ve been vocal about getting to the sidelines while the market bid is still strong into year end. I am bearish and I am evaluating the price action. I can’t aggressively … Read More