By: Tom Gentile
on January 10th, 2022
Is This a One-Day Bounce in the Markets or More?
We will see hot this last hour of the day goes, but right now the Dow, NASDAQ and S&P 500 are all up off their lows.
They are all still negative on the day, but not as bad as they were earlier.
One thing I like to do is assess price support areas for stocks, ETF’s crypto and if I see a test of that support price area and it shows a likelihood to bounce off that support I start looking at bullish option trades.
What are the Concerns for the Market?
It still seems the three concerns on the markets are omicron, supply change concerns, Interest rate hikes.
But to me, that’s the same tune the financial news networks have been playing for weeks now. What happens after you keep hearing the same tune for a prolonged period of time? You become numb to it, and I feel people are at least putting their toe back in the water and buying and that may lead to more than a one-day bounce.
App: Toms Option Tools
This Market Insight article may show lists of stocks meeting a variety of options parameters like Unusual Call and or Put activity or Expensive IV and other times simply the 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.