This Market Threat Is Starting To Build Posted by Pete Stolcers on February 28 www.1option.com Posted 9:30 AM ET – The overnight news was not good on a multitude of fronts. The threat of new Chinese tariffs remains and their manufacturing PMI hit a 3-year low. Peace talks with North Korea ended abruptly and Kim Jong-un is not ready to … Read More
Daily Commentary: February 27, 2019
Market Speed Bump Ahead – Watch Out For This News Posted by Pete Stolcers on February 27 www.1option.com Posted 9:30 AM ET – The market has been showing signs of strain. The last two days we have seen late day selling and follow through the next morning. Horizontal resistance at SPY $281 is stiff and a major round of economic … Read More
Daily Commentary: February 26, 2019
Market Pricing In Positive Outcomes – Here Are the Spoilers Posted by Pete Stolcers on February 26 www.1option.com Posted 9:30 AM ET – A US/China trade deal is likely and the market gaped up on the news. This was largely priced into the market and stocks gradually drifted lower the entire day. Horizontal resistance at SPY $281 held and we … Read More
Daily Commentary: February 25, 2019
Market Will Test Major Horizontal Resistance Today Posted by Pete Stolcers on February 25 www.1option.com Posted 9:30 AM ET – Today the market will test a critical horizontal resistance level at SPY $281. Trump extended the tariff deadline with China and a new date was not scheduled – it might not be needed. He said that a summit with Xi … Read More
Daily Commentary: February 22, 2019
Market Pricing In Positive Outcomes – Surprise Favors Downside Posted by Pete Stolcers on February 22 www.1option.com Posted 9:30 AM ET – Yesterday the market showed signs of strain. The FOMC minutes were dovish and US/China trade negotiations cleared a major hurdle. Stocks initially surged on the news and then drifted lower. This is a major warning sign. Today we … Read More
Daily Commentary: February 21, 2019
Market Rally Is Out of Gas – Heed These Warning Signs Posted by Pete Stolcers on February 21 www.1option.com Posted 9:30 AM ET – The overnight news was extremely bullish, but the market is not moving higher. Trade talks with China are progressing and the framework has been forged. The S&P 500 jumped higher on the news and now it … Read More
Daily Commentary: February 20, 2019
Market Could Hit A Speed Bump Overnight – Watch This News Posted by Pete Stolcers on February 20 www.1option.com Posted 9:30 AM ET – The market is addicted to good news and the well is running dry. The S&P 500 is above the major moving averages and the next obstacle is horizontal resistance at SPY $281. Trading volume has been … Read More
Daily Commentary: February 19, 2019
Market Needs Great News On All Fronts To Tread Water Posted by Pete Stolcers on February 19 www.1option.com Posted 9:30 AM ET – The market has staged an impressive bounce off of the December lows. It has broken through the 100-day and 200-day moving averages and those technical levels now represent support. A more dovish Fed and trade negotiation progress … Read More
Daily Commentary: February 15, 2019
Stay Bearish – Bad News Is Mounting and the Bid Will Soften Posted by Pete Stolcers on February 15 www.1option.com Posted 9:30 AM ET – Yesterday the market tested the 200-day moving average after a soft retail sales report. Stocks found support and the market was able to close above that critical level. Trump will reluctantly sign a bill today … Read More
Daily Commentary: February 14, 2019
Buy Puts – There Are Cracks In the Dam Posted by Pete Stolcers on February 14 www.1option.com Posted 9:30 AM ET – Yesterday the market tried to advance after breaking through the 200-day moving average the day before. The high of the day was established early and the momentum stalled. In the last 30 minutes of trading we saw a … Read More