Market Has A Buyer

October 25, 2022
Author: Peter Stolcers, Founder of OneOption

Corporate buybacks will reach $1.1T this year.

PRE-OPEN MARKET COMMENTS TUESDAY – The market staged a low volume rally yesterday and it tested resistance at the down trend line and horizontal resistance at SPY $380. MSFT and GOOG will report after the close today and META, AMZN and AAPL are on deck Wednesday and Thursday. One fifth of the S&P 500 has reported and 75% have beaten estimates by a margin of 5.4%. Earnings are up 3.1%, but ex-energy they are down 3.5%.

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