The First Trading Week Is Important

January 4, 2023
Author: Peter Stolcers, Founder of OneOption

As the first week goes, so goes the year 75% of the time since 1929.

PRE-OPEN MARKET COMMENTS WEDNESDAY – The first trading day of the year started off on a positive note and that enthusiasm died after the first 15 minutes. Sellers flexed their muscles and the gap reversal was underway. The up trendline that connects the low from October 13th to the low from December 22nd was tested and it is critically important. When that support level is breached I believe we will see a drop and I am expecting it this week.

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