Market Bounce Coming

September 29, 2023
Author: Peter Stolcers, Founder of OneOption

The height and duration of this bounce will tell us how aggressive buyers and sellers are.

PRE-OPEN MARKET COMMENTS FRIDAY – Not much has changed overnight. Global markets are trading higher and the SPY might have established a temporary support level this week. End of month fund buying will keep a small bid to the market today. The third revision to GDP was in line with expectations and PCE was a touch better than feared. Inflation in the EU fell to its lowest level since October 2021 (4.3% vs 5.2% expected).

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