Is This the Bounce We Have Been Expecting?

October 4, 2022
Author: Peter Stolcers, Founder of OneOption

Probably, but no need to chase. Be patient today. The price action will provide valuable clues.

PRE-OPEN MARKET COMMENTS TUESDAY – Yesterday the market gapped higher and it was able to hold the gains through the first two hours of trading. That is typically when the selling pressure surfaces and when any gains evaporate. As the day progressed the market was able to float higher and it erased some of the losses from last week. Overseas markets were strong and that is providing a nice backdrop this morning. The S&P 500 is up 60 points and it has traded above the high from last week.

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