Daily Commentary: 1Option

eOption1Option Commentary

Market Reversal Signals Trouble – Focus Is Still On Politics – Downside Will Be Tested Yesterday the market rallied on a strong ADP report. Private payrolls increased by 262,000 during the month of March (much better than expected). Stocks shot higher and the SPY rallied above resistance at $236.50. There were signs of selling pressure early in the day and … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Likes Strong Job Growth The market is constantly searching for a piece of news it can latch onto. This morning ADP reported that 263,000 new jobs were created in the private sector in March. This was a very “hot” number and the S&P 500 is up five points before the open. Financials and energy stocks have a strong bid … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Drop Should Be Limited Today – Support Is Close and Oil Is Up Yesterday the market drifted lower and it was able to recover some of its gains. Stocks are weak again this morning and support at SPY $235 will be tested. Major economic releases will be the “driver” this week. ISM manufacturing was strong yesterday (57.2) and ISM … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Needs Strong Data This Week – Watch Financials and SPY $235 A week ago the market sold off on worries that Trump would not be able to execute his game plan. The healthcare bill never even made it to vote and the GOP is fragmented. Investors are concerned and the S&P 500 dropped 20 points last Monday. Stocks gradually … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Focus Will Shift To Economic Growth Next Week – Good News Is Good News Yesterday the market continued to grind higher. The action was light but positive. Stocks are lower this morning and they should find support. China’s PMI was better than expected and many analysts are raising GDP estimates. Europe and Japan were also solid. Domestic economic activity will … Read More

Daily Commentary: 1Option

eOption1Option Commentary

QQQ Ready To Make An All-time High – Buy Tech Stocks Yesterday the market took a little bit of a breather. It rallied 40 points off of Monday’s low so that should be expected. Stocks inched higher and we saw follow-through. The reversal this week indicates that buyers are still engaged. Trump’s tax reform is on the front burner and … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Look For An Easy Little Tax Cut – Market Will Get A Sugar High Yesterday we saw follow-through buying after the reversal on Monday. The S&P 500 was up more than 20 points at one time and it has rallied 40 points since the low Monday. The SPY is above resistance at $235 and that will become a support level … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Will Bounce – Earnings and Economy In Focus – Tax Reform Has Time Yesterday the S&P 500 gapped lower on the open and it was down more than 20 points. The low the day was established in the first 10 minutes of trading and stocks gradually work their way back the entire day. This reversal was bullish and it … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Does Not Believe Trump Can Cut Taxes – Buy On Support Last Friday Republicans pulled the healthcare bill knowing that they didn’t have enough votes in the House. This casts doubt on Trump’s ability to execute his game plan and the market doesn’t like the news. The S&P 500 is down 20 points before the open and the 50-day … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Trump Will Pivot To Tax Reform – Market Will Like It – Buy the Dip The market has been volatile this week. Investors are searching for the next “driver” and all of the focus is on the healthcare bill. The vote was postponed and it probably won’t happen until the market closes today. Most people believe that if it doesn’t … Read More