Has the Equities Market Found a Bottom?

Tom Gentile

Posted in
Daily Report

By: Tom Gentile
May 16th, 2022

2 mins read

Is the Market Finding Support at Least for Now?

Image 27
SPY

One day reversal usually do not speak for a trend forming.

Usually the security needs a day, two or three follow through.

Japanese candle sticks are a technical chart view and means to assess reversal or continuation patterns for securities.

One could make for a case there is a Morning Star Rversal pattern forming on the SPY, so long as things close here for today, or at least close with the close higher than the open on the day.

Friday saw a gap down and bullish reversal and ended up closing higher than it opened.

This ahs happened before only to see the markets continue its selling the next handful of trading days.

The Markets are Seeing Bullish Follow Through for Now

Today’s price action is one that, at the time of this writing is showing follow through to the upside and so long as it stays bullish for the day, that would be a bit of conviction for those with a bent towards being bullish.

I want to also provide the technical view of an overhead resistance where thins may stall or the bounce ends.  It is at $410 as we see it.

Should any long positions be taken in any security, a price move not only to, but above (preferably on strong volume for conviction), that resistance point should bring a bit more upside.

I am not calling for a full-scale jump onto a long-term bullish moindset, but a bullish pop  for a trade might be worth discussing with your brokers.

Here are the images of the bullish Morning Reports lists

Image 28

The bottom two lists one would be looking at those options that are Calls.

App: Toms Option Tools

Market Insight articles may show images of lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV found on my app Toms Option Tools.

Other times I will have other charts may work to amplify my educational points. 

Those options data lists, however, can be found on my app Tom’s Option Tools. Use your device to search up and download this app and get free access to the Morning Reports section of the app.

Other parts of the app are available at a premium subscription rate, but the Morning Reports Lists are yours free.


Disclaimers

Stock and options trading has large potential rewards, but also large potential risk.

You must be aware of the risks and be willing to accept them in order to invest in the stock and options market. Do not trade with money you cannot afford to lose.

This is neither an offer to buy/sell/ or recommend a particular stock or option.

Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been actually executed, the results may have under or overcompensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with hindsight.

No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.

Disclaimer of Warranties and Liabilities Tom Gentile and TomsTradingRoom, LLC including employees, consultants, and editors (“Publisher”) cannot and do not warrant the completeness or accuracy of the content found in our areas, or its usefulness for any particular purpose.

Tom Gentile and TomsTradingRoom, LLC also make no promises that our content or the service itself will be delivered to you uninterrupted, timely, secure, or error-free. Under no circumstances will Tom Gentile and TomsTradingRoom, LLC be liable for direct, indirect, incidental, or any other type of damages resulting from your use or downloading of any content on our site.

This includes, but is in no way limited to, loss or injury caused in whole or in part by our negligence or by anything beyond our control in creating or delivering any portion of Tom Gentile and TomsTradingRoom, LLC.

You are agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that Tom Gentile and TomsTradingRoom, LLC will not be liable for any I, investment decision made, or action taken by you, or others based upon reliance on news, information, or any other material published by Tom Gentile and TomsTradingRoom, LLC.

Tom Gentile and TomsTradingRoom, LLC relies on various sources of information that we believe to be accurate and reliable. However, we make no claims or representations as to the accuracy, completeness, or truth of any material contained on our site.

Tom Gentile and TomsTradingRoom, LLC are educational portals, providing content for educational and informational purposes only. Neither Tom Gentile nor TomsTradingRoom, LLC are a broker/dealer. Investors need a broker to trade stocks and options and must meet certain requirements. All securities, futures, and investments data and ideas are offered to self-directed investors. All prices in USD unless noted otherwise.

A full disclaimer can be found here:  http://www.tomgentile.com/legal_disclaimers.html.

Sign Up Now for Free Education!