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Daily Option Trading Commentary

Market Will Challenge Resistance Today - Price Action Will Be Bullish In July

July 6
Posted 9:30 AM ET - Last week the economic data was better than expected and the market is continuing to rally after testing the 200-day moving average. The Unemployment Report and ADP both showed better-than-expected results and ISM Manufacturing rallied to 52.5. The market bid it is typically strong into earnings season and the market is poised to move higher for the next few weeks. During the month of June, 4 .8 million jobs were created and that was much better than the 3.5 million that was expected. ISM manufacturing is in expansion territory (52.5) and ISM services will be…

 

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