Buy Puts Today and Use This Stop! Posted by Pete Stolcers on January 23 www.1option.com Yesterday the market showed the first signs of weakness. The selling pressure was steady and the SPY breached the 50-day MA during the day. It did close above it, but another drop below it could pave the way for more selling. Trade talk rumors are … Read More
Daily Commentary: January 22, 2019
Market Rally Will Stall – Too Many Unresolved Issues Posted by Pete Stolcers on January 22 www.1option.com Posted 9:30 AM ET – The S&P 500 broke through the 50-day moving average on Friday and that support level needs to hold. There are many unresolved issues and the downside will be tested early this morning. We are in a bullish pattern … Read More
Daily Commentary: January 18, 2019
Market Thru Resistance – Get Short If This Happens Posted by Pete Stolcers on January 18 www.1option.com Posted 9:30 AM ET – Yesterday the market instantly erased early losses and it rallied most of the day. We are seeing a bullish pattern of lower opens and higher closes. Late yesterday we learned that the White House wants to strike a … Read More
Daily Commentary: January 17, 2019
Watch This Sector – Market Needs It Or Rally Will End Posted by Pete Stolcers on January 17 www.1option.com Posted 9:30 AM ET – The market has been grinding higher and it is approaching resistance at the 50-day MA. Earnings guidance will be critical during the next few weeks. The overnight news was generally positive, but the market will have … Read More
Daily Commentary: January 16, 2019
Market Breakout Will Fuel A Move To This Level Posted by Pete Stolcers on January 16 www.1option.com Posted 9:30 AM ET – Yesterday the market broke out of a five-day compression and it was able to hold the gains. The Brexit vote did not have much of an impact and stocks are moving higher before the open. Overhead resistance is … Read More
Daily Commentary: January 15, 2019
Market Is Compressing – Wait For A Breakout/Breakdown Posted by Pete Stolcers on January 15 www.1option.com Posted 9:30 AM ET – The market has been compressing during a light news cycle. Buyers and sellers are paired off and we are at equilibrium. Earnings season has kicked off and this will provide clarity. Trading volume is declining and the market could … Read More
Daily Commentary: January 14, 2019
Buy SPY Puts If This Scenario Plays Out Today! Posted by Pete Stolcers on January 14 www.1option.com Posted 9:30 AM ET – Earnings season has officially started this morning. Citigroup missed revenues and the stock is down .7%. Chase and Wells Fargo will report tomorrow. Buyers have been nibbling ahead of earnings releases and the market has bounced the last … Read More
Daily Commentary: January 11, 2019
Earnings Season Will Provide Clarity – Here’s the Key Posted by Pete Stolcers on January 11 www.1option.com Posted 9:30 AM ET – The major overnight news did not come from a headline. It is technical in nature. Yesterday stocks sold off early in the day and the market has been feeling “toppy” the last few days. Buyers stepped in early … Read More
Daily Commentary: January 10, 2019
Market Bounce Feels “Toppy” – Use Caution and Set Stops Posted by Pete Stolcers on January 10 www.1option.com Posted 9:30 AM ET – The news cycle is light and the upward momentum is showing signs of strain. Yesterday the market held early gains, but the price action was very choppy. The FOMC minutes suggested that the Fed might postpone future … Read More
Daily Commentary: January 9, 2019
Market Grinding Higher – Go With the Flow – Use This Stop Posted by Pete Stolcers on January 9 www.1option.com Posted 9:30 AM ET – If you are thirsting for commentary, you’ll have to review my comments from the last few days. The news is light and that favors the current upward momentum. Trade talks with China are progressing and … Read More