Market Outlook Pre Jobs Report

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

This is what I will be looking for in the next few weeks. Don't guess, wait for technical confirmation.

PRE-OPEN MARKET COMMENTS FRIDAY – The market has shown some signs of selling pressure in the last week and the price action is toppy. This is typical for August and now that mega cap tech companies have announced earnings, shorts will be more aggressive. I don’t have a keen sense for market direction because this could be a bullish flag formation (market makes a new 52-week high) or it could be a double top lower high.

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