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Daily Option Trading Commentary

Market Direction For the Next Week Will Be Determined Today - Watch For This

September 16
Posted 9:30 AM ET - The price action today will be very revealing. Yesterday a long term market uptrend was preserved. Typically, these bounces have provided a springboard to a new all-time high. If the price action is bullish today we can expect higher prices. However, if the market easily gives up its gains from yesterday we know that the second shoe is about to drop and we could take out that major support level in the next few days. After a monster rally from the 2020 lows every dip has been bought with a vengeance. The dips barely last…

 

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