Major Market Breakout

December 13, 2022
Author: Peter Stolcers, Founder of OneOption

This move is like throwing gasoline on the fire. Here's why.

PRE-OPEN MARKET COMMENTS TUESDAY – Let’s cut to the quick. We have been in “wait and see” mode and the market has been compressing between the 100-day MA and the 200-day MA on light volume. This is triple witching (Friday) and a move in either direction was going to be exaggerated because it would breach major support (D1 up trendline and the 100-day MA) or resistance (D1 down trendline and the 200-day MA). This move was going to prompt major adjustments and it is like throwing gasoline on a fire.  

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