We’ve Been Expecting This Market Drop

August 22, 2022
Author: Peter Stolcers, Founder of OneOption

This drop is going to set up longer term bullish swing trades, but we have to be patient.

PRE-OPEN MARKET COMMENTS MONDAY– I’m sure the media outlets have justified the 50 point overnight S&P 500 drop with some nonsense. The market rallied 12% in a month and this is profit taking. In the last few weeks I have warned you that this was coming. The interest rate hikes have not filtered through the economy and Asset Managers are going to be relatively passive for a few months. They want to gauge the impact on activity.

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