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Daily Option Trading Commentary

Nice Market Bounce - A Drop and Retest of Support Likely Next Week

May 14
Posted 9:30 AM ET - The year-long market rally remains strong and every dip to the 50-day moving average has been a buying opportunity in 2021. Buyers scooped stocks Thursday and we are seeing follow-through this morning. Global markets were strong overnight and that is setting a positive backdrop. I still believe that the headwinds are blowing and that a retest of support is likely in the next week. Nibble, but don't chase. It's important for us to watch what's happening around the rest of the world. China has been the global growth engine for the last decade and there…

 

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