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Daily Option Trading Commentary

Strong Earnings Will Overpower Tariff Concerns - Use These Levels As Your Guide

July 20
Posted 9:30 AM ET - Yesterday the market pullback on a relatively soft round of earnings announcements. The QQQ and SPY are hovering around major technical support levels and the bid is being tested. Solid overnight earnings announcements are being overshadowed by tariffs spats with China. The market has been discounting these comments on the notion that Trump will back off. He needs to strike deals ahead of the November elections. Microsoft is up 4% after reporting earnings and it will set a positive tone for the tech sector. It is breaking out to a new all-time high. Honeywell is…

 

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