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Daily Option Trading Commentary

Market Not Able To Breakout - The Headwinds Are Stiff

June 11
Posted 9:30 AM ET - PRE-OPEN MARKET COMMENTS FRIDAY – Yesterday the market dropped on the CPI news and it instantly rebounded. The price action during the day was choppy and the headwinds are stiff at the all-time high. I am expecting a dull trading day with a slight upward bias. Consumer prices rose .6% and that was "hotter" than the .4% that was expected. Surprisingly, US 10-Year Treasuries moved higher (interest rates have been moving lower) and bond traders seem to agree with the Fed's notion that inflation is transitory. Initial jobless claims fell below 400,000 for the first…

 

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