Daily Commentary: June 7, 2019

Scott Green1Option Commentary

Weak Jobs Report Does Not Spoil Bounce – Bad News Is Good News Posted by Pete Stolcers on June 7 www.1option.com The market continues to bounce off of the lows from Monday. It has cleared the 200-day and 100-day moving averages and the upward momentum is strong. Stocks were deeply oversold and this bounce still has a few more days … Read More

Daily Commentary: June 6, 2019

Scott Green1Option Commentary

Watch For These Market Warning Signs – This Is Only A Bounce Posted by Pete Stolcers on June 6 www.1option.com The market is bouncing from a deeply oversold condition. Dovish Fed remarks sparked buying and this move still has a few days before it exhausts itself. Trade from the long side, but know that this is only a bounce. Trump … Read More

Daily Commentary: June 5, 2019

Scott Green1Option Commentary

Powell Lifts the Market – This Is Only A Bounce Posted by Pete Stolcers on June 5 www.1option.com Yesterday the market staged an impressive bounce and the S&P 500 rallied through the 200-day and 100-day moving averages. Fed Chairman Powell is dovish as global economic conditions continue to deteriorate. Major economic releases are scheduled today. ADP reported that 27,000 new … Read More

Daily Commentary: June 4, 2019

Scott Green1Option Commentary

Big News After the Open – It Will Drive the Market Today Posted by Pete Stolcers on June 4 www.1option.com The market closed below the 200 day moving average for the second day in a row. A late bounce sparked by dovish comments from a Federal Reserve official (Bullard) pared some of the losses. Fed chairman Powell will weigh in … Read More

Daily Commentary: June 3, 2019

Scott Green1Option Commentary

Watch This News After the Open – It Could Spark More Selling Posted by Pete Stolcers on June 3 www.1option.com The S&P 500 closed below the 200-day moving average Friday. The selling was heavy and we did not see a late day bounce. Economic releases were soft over the weekend and we are poised to open lower this morning. Investors … Read More

Daily Commentary: May 30, 2019

Scott Green1Option Commentary

This News Will Help the SPY Fill the Gap Today – Only A Bounce Posted by Pete Stolcers on May 30 www.1option.com Yesterday the market tested the 100-day and the 200-day moving averages. Stocks are bouncing this morning and we could fill in the gap from the open yesterday. The market typically bounces off of major support levels on the … Read More

Daily Commentary: May 22, 2019

Scott Green1Option Commentary

FOMC Minutes This Afternoon – Here’s the Expected Reaction Posted by Pete Stolcers on May 22 www.1option.com A daily chart of the S&P 500 reveals many overnight gaps that reverse the next day. This pattern during the last two weeks is a sign of indecision and we can expect it to continue for at least another week. Trade negotiations with … Read More

Daily Commentary: May 21, 2019

Scott Green1Option Commentary

News Vacuum – Look For Tight Ranges and Light Volume Posted by Pete Stolcers on May 21 www.1option.com Yesterday the market tested horizontal support at SPY $285. We closed slightly below that level and this morning we will trade above it. The news is fairly light this week and trading volume will decline into the holiday. US/China trade negotiations will … Read More

Daily Commentary: May 20, 2019

Scott Green1Option Commentary

This Support Level Will Be Tested In May Posted by Pete Stolcers on May 20 www.1option.com The market has been soft and the old adage “sell in May and go away” has worked. Trade negotiations with China soured and new sanctions against Chinese telecommunications company Huawei have escalated trade tensions. A deal was priced into the market and it looks … Read More

Daily Commentary: May 17, 2019

Scott Green1Option Commentary

No China Trade Deal Until 2020 Election – Here’s Why Posted by Pete Stolcers on May 17 www.1option.com The market fell hard Monday and it spent the rest of the week trying to recover. Yesterday we filled the gap from Monday, but buyers threw in the towel late in the day. Harsh overnight rhetoric from communist controlled Chinese media has … Read More