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Daily Option Trading Commentary

Market Surged Through The 50-Day MA - Stocks Will Float Higher Next Week

April 21
Posted 9:20 AM ET - Yesterday the market treaded cautiously for the first hour. The opening gains held and buyers started to nibble. Once the S&P 500 made a new high for the day we were off to the races. The market finished above the 50-day moving average and the bid looks solid this morning. In my comments Wednesday morning I told you the market would challenge the 50-day high. I looked pretty foolish for day, but I was right. If the market was not able to rally during the start of earnings season a giant warning shot would have…
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