Selling Pressure Will Abate

April 15, 2024
Author: Peter Stolcers, Founder of OneOption

I believe we will see more selling pressure this week. The move lower will be stubborn with mixed overlapping candles. Trade both sides and look for good intraday ranges.

PRE-OPEN MARKET COMMENTS MONDAY - The selling pressure last week tells me that buyers are relatively passive. They have been waiting for a dip and they are getting one. This move is likely to be brief and shallow, but we are not going to guess. Keep your trades short-term in duration and remain balanced. Buyers and sellers are battling it out. When one side gains control, the move will be fairly sustained intraday. When it loses its momentum, the other side will take control. We are seeing lots of great stocks on both sides.

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