Daily Commentary: September 21, 2020

Jeremy Engelbrecht1Option Commentary

Market Selling Will Accelerate – Options Trade For Today – Video Posted by Pete Stolcers on September 21 www.1option.com   Last week the S&P 500 closed below its 50-day moving average. Support has been tested frequently at that level and the market has not been able to sustain a decent bounce in the last two weeks. That suggests that the … Read More

Daily Commentary: September 18, 2020

Jeremy Engelbrecht1Option Commentary

Look For A Bounce Today – Should Be Some Decent Option Lottery Trades Posted by Pete Stolcers on September 18 www.1option.com   Yesterday the market gapped down to a major support level that has been established over the last three weeks and it was able to hold its ground. Buyers and sellers are paired off and we are seeing choppy … Read More

Daily Commentary: September 17, 2020

Jeremy Engelbrecht1Option Commentary

Market In Trouble – This Event Could Fuel A Big Drop Today – Game Plan Posted by Pete Stolcers on September 17 www.1option.com   In the first half of this week the market treaded water while it waited for a dovish FOMC statement. The Fed will maintain a 0% interest rate policy for the next couple of years, perhaps longer. … Read More

Daily Commentary: September 16, 2020

Jeremy Engelbrecht1Option Commentary

The Market Is Trying To Establish Support – Here’s the FOMC Reaction I’m Expecting Posted by Pete Stolcers on September 16 www.1option.com   The market is trying to establish support after a pullback during the last two weeks. Dovish Fed comments are expected today and House Democrats will not take recess in October unless a stimulus bill has been passed. … Read More

Daily Commentary: September 15, 2020

Jeremy Engelbrecht1Option Commentary

Market Will Open Through Resistance Today – FOMC Statement Will Be Bullish Posted by Pete Stolcers on September 15 www.1option.com   The S&P 500 bounced off of the 50-day moving average and the opening gap higher on Monday held throughout the day. Buyers are nibbling after SPY $332 was tested three times last week. We are likely to see a … Read More

Daily Commentary: September 14, 2020

Jeremy Engelbrecht1Option Commentary

Market Gap – Merger Monday – Watch For These Clues In the Price Action Today Posted by Pete Stolcers on September 14 www.1option.com   Last week the S&P 500 tested support at the 50-day moving average three times and that support held. Merger Monday is fueling a gap higher and the S&P 500 is up 40 points before the open. … Read More

Daily Commentary: September 11, 2020

Jeremy Engelbrecht1Option Commentary

Market Price Action Is Bearish – More Selling Ahead – WE WILL NEVER FORGET Posted by Pete Stolcers on September 11 www.1option.com   Yesterday we got an important piece of technical information. The market tried to add to gains from Wednesday’s bounce and the selling pressure regained its momentum Thursday. Stocks closed on the low of the day and support … Read More

Daily Commentary: September 09, 2020

Jeremy Engelbrecht1Option Commentary

Market Bounce This Week Will Provide Clues On Longer Term Direction [Watch For This] Posted by Pete Stolcers on September 09 www.1option.com   Yesterday the market tested the low from Friday and support held during the day. I believe that buyers will be a little more confident and we are seeing a 30 point rally in the S&P 500 this … Read More

Daily Commentary: September 08, 2020

Jeremy Engelbrecht1Option Commentary

The Market Needs To Find Support – Here Are the Likely Scenarios For Sept Posted by Pete Stolcers on September 08 www.1option.com   Last week last week the S&P 500 reversed sharply from an extremely overbought condition. We were not blindsided by this move, we were expecting it. Gains from light volume rallies can quickly be stripped away. At a … Read More

Daily Commentary: September 04, 2020

Jeremy Engelbrecht1Option Commentary

Profit Talking Was Heavy – Here’s What the Market Will Do Today and Next Week Posted by Pete Stolcers on September 04 www.1option.com   Yesterday the market tumbled and we saw heavy profit-taking. In the last two weeks I have outlined why this would happen so I’m not going to rehash the details. The rally is over-extended and there is … Read More