The Market Is A Pressure Cooker Posted by Pete Stolcers on January 11 www.oneoption.com Support is forming and we are within striking distance of the all-time high. We are likely to get a big move through it very soon. PRE-OPEN MARKET COMMENTS THURSDAY – I am bullish and this dip will soon run its course. The market feels like a … Read More
Daily Commentary: May 24, 2023
Debt Ceiling Crash Posted by Peter Stolcers on May 24 www.oneoption.com If we get a big market drop, here is how I would trade it. PRE-OPEN MARKET COMMENTS WEDNESDAY – The breakout through horizontal resistance on heavy volume last week was a head fake and we have fallen back below $417.50. Traders are operating under the notion that the debt … Read More
Market Review: May 04, 2023
Closing Recap Thursday, May 04, 2023 Index Up/Down % Last DJ Industrials -286.30 0.86% 33,127 S&P 500 -29.38 0.72% 4,061 Nasdaq -58.93 0.49% 11,966 Russell 2000 -20.48 1.18% 1,718 U.S. stocks slipped for a 4th straight trading day but finished off the lows as the S&P 500 bounced just short of … Read More
Morning Preview: May 04, 2023
Early Look Thursday, May 4, 2023 Futures Up/Down % Last Dow -28.00 0.08% 33,464 S&P 500 -4.25 0.10% 4,103 Nasdaq 26.50 0.20% 13.127 U.S. futures are down slightly, paring overnight losses (SPUZ back above 4,100 after lows of 4,075.50), following several developments in the financial/banking sector and as investors further digest the FOMC rate news and Powell commentary … Read More
Weekly Event Calendar: 05/01/2023 – 05/05/2023
What’s on Tap Weekly Calendar Monday May 1st Economic Calendar: · 9:45 AM ET S&P Global Manufacturing PMI, Apr-F · 10:00 AM ET Construction Spending for March · 10:00 AM ET ISM Manufacturing PMI for April Earnings Calendar: · Earnings Before the Open: ALX AMG BEN CNA GPN KBR L NCLH ON K SBT SJW SOFI WEC · Earnings After the Close: ADUS AIRC AL AMKR … Read More
Market Review: May 03, 2023
Closing Recap Wednesday, May 03, 2023 Index Up/Down % Last DJ Industrials -270.42 0.80% 33,414 S&P 500 -28.73 0.70% 4,090 Nasdaq -55.18 0.46% 12,025 Russell 2000 7.17 0.41% 1,739 As expected, the Federal Reserve delivered a 25 basis-point interest-rate increase to a 5%-5.25% range. U.S. stocks bounced back and forth in … Read More
Mid-Morning Look: May 04, 2023
Mid-Morning Look Thursday, May 04, 2023 Index Up/Down % Last DJ Industrials -351.43 1.05% 33,062 S&P 500 -32.28 0.79% 4,058 Nasdaq -68.30 0.57% 11,957 Russell 2000 -30.44 1.75% 1,708 U.S. stocks are lower to start, adding to yesterday declines as the ongoing fears in the banking sector weighs on market sentiment, with regional bank selling pressure hurting … Read More
Daily Commentary: April 14, 2023
Volume Equals Trust Posted by Peter Stolcers on April 14 www.oneoption.com This market rally looks great if you just look at the price action. However, the light volume tells us the conviction is low. Much of this bounce is short covering and not aggressive buying. PRE-OPEN MARKET COMMENTS FRIDAY – The market has been able to grind higher and preserve … Read More
Daily Commentary: April 12, 2023
The Market Is Testing Major Resistance Posted by Peter Stolcers on April 12 www.oneoption.com Buyers have not been excited the whole way up and we know that because the volume has been light. Was the CPI good enough to change that? PRE-OPEN MARKET COMMENTS WEDNESDAY – The market has been trapped in a range and the volume the last few … Read More
Daily Commentary: January 31, 2023
The Calm Before the Market Storm Posted by Peter Stolcers on January 31 www.oneoption.com Fasten Your Seat Belts! PRE-OPEN MARKET COMMENTS TUESDAY – This is going to be a very important week. Earnings and interest rates drive the market and it is coiling like a spring inside of a D1 wedge. We are going to breakout one way or the … Read More