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Daily Option Trading Commentary

Market Bid Is Holding - This Is the Key To A Market Rally In the Next Month

April 3
Posted 9:30 AM ET - Yesterday the S&P 500 found support just above the low from Wednesday and it rallied the rest of the day closing on its high. This was very close to forming a bullish engulfing pattern on a daily chart and it is a sign that buyers are engaged. The news cycle will be extremely "heavy" for another week and the selling pressure during the next few days will help us gauge the level of conviction. With global interest rates at 0%, investors have few alternatives. Money will gradually start working its way back into equities. This…

 

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