I Like This Market Bounce… But

October 10, 2023
Author: Peter Stolcers, Founder of OneOption

The market is likely to keep doing what it has been doing. Expect lots of bid checks along the way.

PRE-OPEN MARKET COMMENTS TUESDAY – The market has been able to find support above the 200-day MA. The SPY high from August 2022 was $432. We moved above that level this summer and the market was trapped in a range until two weeks ago. The drop and bounce tested support and we are likely to move back into that range.

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