Daily Commentary: 1Option

eOption1Option Commentary

Buy Put Options If This Technical Support Level Is Breached Today Yesterday we saw profit-taking in the first hour of trading. Buyers pulled bids and we hit an air pocket. The S&P 500 was down 15 points and support at SPY $238 held. Once the lows were in, buyers nibbled and the market recovered most of its losses. This morning … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Will Grow Impatient With “The Swamp” – Fed Could Spark Profit Taking Yesterday the market opened at an all-time high and it spent the entire day drifting lower. By the close the S&P 500 was in negative territory. Tech is lifting the market and we need leadership from other sectors. The biggest tech companies have announced and the excitement … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Trouble Ahead – Stay In Cash and Wait For A Market Dip Yesterday the market was flat and the volume was low. The air has been “let out of the balloon” and we are heading into a news vacuum. Mega cap tech stocks have reported, major economic releases are behind us and we’ve heard from the Fed. Stocks are treading … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Market Dip Ahead – News Will Slow Down Next Week – No Catalyst The S&P 500 is compressing near the all-time high. If this were a stock I would buy the breakout. Unfortunately it’s not. If you look back over time you’ll notice that every SPY gap fills in pretty quickly. That’s because it is a diversified index of 500 companies. … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Rally Is Almost Out Of Gas – Look For Profit Taking In Tech Next Week Yesterday the market took a breather ahead of the FOMC statement. The Fed is predicting stronger growth in Q2 and a rate hike in June is likely. Stocks barely budged after the news. ADP revealed that 177,000 new jobs were created in the private sector … Read More

Daily Commentary: 1Option

eOption1Option Commentary

FOMC Statement Could Spook Investors – Tech Stocks Are Vulnerable Yesterday tech stocks continued to power higher in anticipation of a good number from Apple. That optimism will start to wane after Facebook announces after the close today. The QQQ has been making new all-time highs for over a week and it is strong relative to the SPY. Bullish speculators … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Bullish Speculators Will Get Flushed Out Soon – Apple Earnings After the Close I believe we are seeing the final leg of this rally. Tech stocks are leading the charge and optimism is high ahead of Apple’s earnings after the close today. Facebook will announce after the close Wednesday. Bullish speculators will get flushed out of tech stocks and we … Read More

Daily Commentary: 1Option

eOption1Option Commentary

One More Push Higher – Take Profits On Bullish Trades Before FOMC Last Monday and Tuesday the market surged and we had the best two days since November. The S&P 500 is within striking distance of the all-time high and we could challenge it this week. Good news is priced in and resistance at the all-time high will be stiff. Tech giants … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Selling Pressure Will Build After Next Week – Expect Some Profit Taking Yesterday the QQQ soared to a new all-time high while the S&P 500 treaded water. Tech stocks marched higher ahead of earnings from Google, Amazon, Intel and Microsoft. Good news was priced in and any surprise favored the downside. The overnight price action has been stable and the reaction … Read More

Daily Commentary: 1Option

eOption1Option Commentary

Earnings After Close Need To Be Incredible For New SPY High In yesterday’s comments I mentioned that stocks were likely to pullback after Trump’s press conference. His content was good, but the early gains were erased. After the biggest two day rally since November the market needed a breather. Earnings after the close today will be critical. Google, Amazon, Intel and Microsoft … Read More