Market Will Make A New All-time High – Hope You Followed My Advice

November 18, 2016
Author: Peter Stolcers, Founder of OneOption

Posted 9:30 AM ET - The S&P 500 is five points away from a new all-time high. Option expiration did not provide the spark I was looking for and we needed a melt up yesterday. Now we are likely to tick higher on light volume ahead of Thanksgiving and we should breakout very soon. The news is light and there is nothing to stand in the way of this rally. This morning I will wait to make sure the downside is not tested. As soon as I'm comfortable that the bid is there I will start scaling into long positions. I won’t wait long (15 min?). We have been able to find very strong stocks using my trading system and the chat room has made a killing this week. Unlike prior weeks, these stocks had upward momentum all day. This is a very friendly environment for day traders and it should continue. If the market starts to grind higher today, we will finish at a new all-time high. I've been telling you to get long since the election and I hope you've taken my advice. We have not had to carry overnight positions to capture the move. Day trading has been the way to go. It is option expiration so we can expect a little choppiness. Support is at SPY $217.60. Get Long! . . image

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