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 5/12/2021 Nasdaq Recovers Early Losses 8:00am (EST) The stock market showed continued weakness on Tuesday with all of the major indexes down for the session as inflation fears remained a key concern. However, the Nasdaq’s recovery from an intraday 2% pullback into positive territory was aRead more
MomentumOptions.com Pre-Market Update for 5/11/2021 Tech Retreats as Inflation, Geopolitical Concerns Weigh on Sentiment 8:00am (EST) The stock market was lower on Monday as Wall Street weighed the risk of higher inflation along with rising oil and gas prices following a cyberattack and the shutdown of a major pipeline thatRead more
MomentumOptions.com New Trade (INTC) for 5/10/2021 12:20pm (EST) I have another New Trade today so let’s go check the tape. New Trade! Intel (INTC, $56.50, down $1.17) Buy to Open INTC June 60 calls (INTC210618C00060000, $0.65, down $0.37) Action: I like these call options at current levels (65 cents). TheseRead more
MomentumOptions.com New Trade (WU) for 5/10/2021 11:25am (EST) I have a New Trade today so let’s go check the action. New Trade! Western Union (WU, $25.80, up $0.69) Buy to Open WU June 26 calls (WU210618C00026000, $0.65, up $0.25) Action: I like these call options at current levels (65 cents).Read more
MomentumOptions.com Pre-Market Update for 5/10/2021 Bulls Overlook Disappointing Jobs Report 8:00am (EST) The stock market showed continued momentum on Friday with the S&P 500 and Dow reaching another round of record highs despite a disappointing April jobs report. Specifically, the jobs report showed that U.S. employers brought back just 266,000Read more
MomentumOptions.com Pre-Market Update for 5/7/2021 Dow Sets Another Record High 8:00am (EST) The stock market traded on both sides of the ledger on Thursday before a late day rally pushed all of the major indexes into positive territory ahead of the closing bell. The gains were a slightly bullish signalRead more
MomentumOptions.com Pre-Market Update for 5/6/2021 Bulls Bounce Back 8:00am (EST) The stock market was mixed on Wednesday after Treasury Secretary Janet Yellen attempted to walk back her comments where she said interest rates may need to rise to keep the economy from overheating. Yellen clarified that she was not makingRead more
MomentumOptions.com Pre-Market Update for 5/5/2021 VIX Spikes Above 20 8:00am (EST) The stock market was mostly lower on Tuesday following comments from Treasury Secretary Janet Yellen who said interest rates might need to rise in order to prevent an economic overheating during the recovery out of the pandemic. Her commentsRead more
MomentumOptions.com Pre-Market Update for 5/4/2021 Market Rebounds but Tech Lags 8:00am (EST) The stock market closed mostly higher on Monday and the first official trading for May despite mixed economic news as first-quarter earnings remain broadly supportive. Specifically, news that 87% of the S&P 500 companies that had reported throughRead more
MomentumOptions.com New Trade (XLU) for 5/3/2021 1:45pm (EST) I have a New Trade today so let’s go check the action. New Trade! Utilities Select Sector SPDR Fund (XLU, $67.27, up $0.55) Buy to Open XLU June 69 calls (XLU210618C00069000, $0.65, up $0.13) Action: I like these call options at currentRead more
