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Daily Option Trading Commentary

Market Is In Trouble - The 100-day MA Will Be Tested Today

August 18
Posted 9:20 AM ET - Yesterday the market took a tumble and we saw the second round of profit-taking in less than a week. Asset Managers will pull bids knowing that they can enter at better levels. Technical support has been breached and we will see more selling in the next week. The 100-day moving average will be tested. I've been warning you about this since Apple posted its earnings. Once the mega cap tech stocks had reported there was nothing to attract buyers. The threat of higher interest rates and the debt ceiling will loom in September. Politicians can’t…
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