The market settled in a sea of red on Thursday following disappointing economic news and the continued fallout over negotiations on another coronavirus stimulus package. The losses held near-term and key support levels with the bulls needing a bounce back on Friday to avoid their 3rd-straight weekly loss. The DowRead more
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MomentumOptions.com Pre-Market Update for 9/22/2020 September Selloff Continues 8:00am (EST) The market continued its September swoon on Monday as coronavirus case counts surged around the world along with the passing of Supreme Court Justice Ginsberg that has caused a heated debate on when the next Supreme Court should be picked. Read more
MomentumOptions.com Pre-Market Update for 9/21/2020 S&P 500 Closes Back Below 50-Day Moving Average 8:00am (EST) The market closed lower on Friday, notching a third-straight weekly loss excluding the small-caps, amid uncertainty about a fresh round of fiscal stimulus from Washington. Weaker-than-expected economic news and concerns about tensions between the U.S.Read more
MomentumOptions.com Pre-Market Update for 9/18/2020 Bears Return to Push Prior Trading Ranges 8:00am (EST) The market settled in a sea of red on Thursday following disappointing economic news and the continued fallout over negotiations on another coronavirus stimulus package. The losses held near-term and key support levels with the bullsRead more
MomentumOptions.com Pre-Market Update for 9/17/2020 Fed Keeps Interest Rates Unchanged 8:00am (EST) The market traded mostly higher ahead of the FOMC announcement with Tech reversing course shortly after the opening bell. Better-than-expected earnings from FedEx (FDX) helped Transportation stocks with Eli Lilly (LLY) lifting the healthcare sector following news ofRead more
MomentumOptions.com New Trade (FCX) for 9/16/2020 1:45pm (EST) I have a New Trade for today so let’s get on it. New Trade! Freeport McMoRan (FCX, $16.81, up $0.40) Buy to Open FCX November 18 calls (FCX201120C00018000, $1.05, up $0.10) Action: I like these call options at current levels and youRead more
MomentumOptions.com Pre-Market Update for 9/16/2020 Bulls Keep Grooving 8:00am (EST) The market finished higher on Tuesday with the blue-chip Dow giving up its early gains ahead of a policy update by the Federal Reserve. Tech led the upswing as the major indexes continued to rebound from last week’s selloff withRead more
MomentumOptions.com Pre-Market Update for 9/15/2020 M&A News Propels Market Higher 8:00am (EST) The market showed strong gains on Monday following ongoing developments for a coronavirus vaccine along with a slew of high profile merger & acquisitions news. Specially, AstraZeneca (AZN) announced clinical trials of its coronavirus vaccine has resumed in the UnitedRead more
MomentumOptions.com Pre-Market Update for 9/14/2020 Bears Get 2nd-Straight Weekly Win 8:00am (EST) The market closed mixed on Friday to wrap up a volatile, holiday-shortened week with the bears getting their 2nd-straight win. The Nasdaq’s losses capped off its steepest weekly loss since March to push the index back into correctionRead more
MomentumOptions.com Pre-Market Update for 9/11/2020 Bears Return to Push Lower Lows 8:00am (EST) The market settled lower on Thursday following a choppy session over the uncertainty of a proposed stimulus package by Senator Majority Leader Mitch McConnell. The bill was rejected late in the session after falling 8 votes shyRead more
