Daily Commentary: April 05, 2022

Jeremy Engelbrecht1Option Commentary

Market Will Try To Confirm This Technical Pattern Posted by Pete Stolcers on April 05 www.1option.com   The market has been strong since the FOMC statement in March. It has rallied above the major moving averages and it has been able to hold those levels. Last week we saw a round of profit taking that ended very quickly and that … Read More

Daily Commentary: April 01, 2022

Jeremy Engelbrecht1Option Commentary

Watch The Market Bounce This Morning – Here’s What To Look For Posted by Pete Stolcers on April 01 www.1option.com   Yesterday we saw a swift round of profit taking that tested the 100-day MA. Light volume rallies are vulnerable and we should expect that after a 400 point S&P 500 rally in the last few weeks. If the market … Read More

Daily Commentary: March 31, 2022

Jeremy Engelbrecht1Option Commentary

Watch For A Dull Trading Day Ahead of the Jobs Report Posted by Pete Stolcers on March 31 www.1option.com   Yesterday the S&P 500 took a breather after a 400 point run since the FOMC statement. The rally has come on light volume and that makes it vulnerable to profit taking. The March Fed rate hike means nothing. Bond yields … Read More

Daily Commentary: March 28, 2022

Jeremy Engelbrecht1Option Commentary

Day Traders Wait For Dips – Don’t Chase the Market Posted by Pete Stolcers on March 28 www.1option.com   Last week the S&P 500 closed firmly above the 200-day MA and tech stocks were particularly strong. I believe that end of month fund buying and earnings season in two weeks will keep buyers engaged. The issues plaguing the market (inflation, … Read More

Daily Commentary: March 25, 2022

Jeremy Engelbrecht1Option Commentary

Market Bid Should Be Good For A Few Weeks – Don’t Overstay Your Welcome Posted by Pete Stolcers on March 25 www.1option.com   Yesterday the S&P 500 closed firmly above the 200-day MA and tech stocks were particularly strong. That bodes well for more upside today and perhaps for the next few weeks. The issues plaguing the market (inflation, Fed … Read More

Daily Commentary: March 23, 2022

Jeremy Engelbrecht1Option Commentary

Swing Traders Watch For This – Conditions Are Improving! Posted by Pete Stolcers on March 23 www.1option.com   PRE-OPEN MARKET COMMENTS WEDNESDAY – Yesterday the S&P 500 closed above the 200-day MA on light volume. Bulls will try to keep the market above that key support level and a close above it Friday would confirm that support is forming. The … Read More

Daily Commentary: March 21, 2022

Jeremy Engelbrecht1Option Commentary

Watch This Key Price Level – It Will Set the Tone For the Week Posted by Pete Stolcers on March 21 www.1option.com   Last week the market staged a relief rally after the Fed raised rates by 25 basis points. This was better than feared and triple witching fueled a breakout above the downward sloping D1 trend line for SPY. … Read More

Daily Commentary: March 18, 2022

Jeremy Engelbrecht1Option Commentary

Still More Bearish Than Bullish – Watch For These Patterns Posted by Pete Stolcers on March 18 www.1option.com   The S&P 500 rallied when the Fed only raised rates by 25 basis points and follow through buying fueled it through the downward sloping trendline on a daily chart. The Quadruple witching “goosed” the move, but the 200-day MA should provide … Read More

Daily Commentary: March 16, 2022

Jeremy Engelbrecht1Option Commentary

FOMC Statement Today – Expect A Big Move Posted by Pete Stolcers on March 16 www.1option.com   This is one of the most anticipated FOMC statements in recent memory. This will be the first rate hike in years. Traders are expecting a 25 basis point increase and language that supports similar increases at the next 3 meetings. Asset Managers typically … Read More

Daily Commentary: March 10, 2022

Jeremy Engelbrecht1Option Commentary

The Bounce Yesterday Was Only That – Here’s What I Expect Today Posted by Pete Stolcers on March 10 www.1option.com   The rally yesterday felt nice, but it was just an oversold bounce. The market is still trading below all of the major moving averages and it has stayed below them for almost a month. A downward sloping trading channel … Read More