Don’t Chase This Gap Up

June 12, 2023
Author: Peter Stolcers, Founder of OneOption

Your best set-up today is to wait for the downside to be tested. Once support is confirmed, buy strong stocks.

PRE-OPEN MARKET COMMENTS MONDAY – The market feels like it has been in FOMC “wait and see” mode for the last week. This rally is news driven and as soon as one event passes the attention instantly shifts to the next potential catalyst. The breakout from a week ago has not been able to gain traction and it is unlikely to ahead of the Fed.

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