Trade What You See

May 9, 2024
Author: Peter Stolcers, Founder of OneOption

Often times traders are influenced by the news and by what they think it means. Just follow price.

PRE-OPEN MARKET COMMENTS THURSDAY - The market broke through key resistance at the 50-day MA and AVWAPQ this week. We need to see follow through buying the next two days and the week needs to finish strong. If resistance is still near the all-time high and if the market can't assault that level, it will form a lower high and then we could see a more significant round of selling.

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