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Daily Option Trading Commentary

Market Will Test Support This Week - Here’s the Game Plan

May 17
Posted 9:30 AM ET - Last week the S&P 500 tested the 50-day moving average and it bounced off of it. We are in a light news cycle and the market feels tired. It needs time to digest recent gains and I believe that support will be tested again this week. The S&P 500 is down 20 points before the open. Inflation is a concern and we are seeing commodity price spikes across the board. Hourly wages increased .7% in April and that is the largest input cost for companies. Many analysts are concerned that the Fed's estimates for transitory…

 

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