Need This Price Action This Week

October 17, 2022
Author: Peter Stolcers, Founder of OneOption

If the market can get through this resistance I will trade from the long side.

PRE-OPEN MARKET COMMENTS MONDAY – A market bid is forming as we prepare for earnings season. The long green candle from Thursday held the halfway point Friday and the S&P 500 will open  45 points higher this morning. At the start of the year, stocks were trading at a P/E of 23 and now they are trading at a much more reasonable P/E of 15. The “E” in that equation will be revealed in the next few weeks and guidance will be critical.

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