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Daily Option Trading Commentary

This Sector Making New All-time High - Focus On These Stocks

June 23
Posted 9:30 AM ET - Yesterday the market added to the bounce from Monday and the selling we saw Friday was all quadruple witching related. The 50-day MA has attracted buyers each time it has been touched this year and that pattern continues. Without any material news to act as a catalyst, buyers will be aggressive at that support level and profit takers will be aggressive at the all-time high. Inflation is running “hot” domestically and abroad. Last week the Fed increased its projections by a full percentage point to 3.4%. They still believe that this is a transitory event…

 

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