October 03, 2022: Is This the Day the Markets Bottomed?

Tom Gentile

Posted in Daily Report

By: Tom Gentile on October 3rd, 2022 • 2 mins read

We are NOT going to go on record and say that today is the day the markets found a bottom for 2022. 

We will say it is at least a possible a spot where the sell off of 2022 may stall.

The prior days education spoke to the prospect of October seeing a bit of a recovery since there is data that shows the S&P 500 has risen 46.15% of the time in Octobers that follow a 7% or more September decline, (the S&P 500 was down over 9% this September).

The month’s result is still to play out, but if today is any indication of the data having merit, things are starting out well.

The Dow closed up 765.38-points or 2.7% higher.

The S&P 500 realized a gain of 2.6% and the Nasdaq Composite advanced 2.3% on the day.

Bullish Options Activity

For those of you who believe we are due for more bullish follow through in the coming days, one place you can start your research finding options that might be a deemed viable trade by you and your broker is our Morning Report Lists.

Log in to the tools (www.tomsoptiontools.com) and go to Options > Rankers > Morning Report

You will see both call and put option activity. If you only want to focus on the call options data go for it.

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If you want to anticipate this one-day bounce is only going to last this long, and a roll over is imminent we included the put options data for you as well.

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.