By: Tom Gentile
on May 31st, 2022
Can’t say where the markets will exactly be at the close of market today, but to offer up an understatement, this month was a crazy month for the markets.
The NASDAQ fared the worst as it is down more than 1% for the month at the time of this writing.
The Dow and the S&P 500nare slightly higher.
Investors and traders are back from the extended weekend as the markets were closed to observe Memorial Day, where we honor our soldiers who gave their lives fighting for our great nation.
Today all three key indexes had a steep drop only to see all three, again at the time of this writing, climb back and take out its opening price. It would be a bullish sign for these to end up closing higher than they opened.
Is the Bear Market Over?
Should you feel the bear market, or bearish conditions in the market are gone one could start looking at spots to redeploy capital.
We are not completely convinced bearish conditions are over. We aren’t taking the stance for the market one way or the other, but in the short-term we will anticipate a bit more to the bounce until it shows us otherwise.
We still have the concerns that have been with us such as Russia/Ukraine, COVID-19 concerns still persist, supply chain concerns and the Fed still sees rate hikes, as necessary.
If prices are at a valuation now with their sell off that looks attractive to you and your broker, continue to work with them as to what is deemed appropriate for your portfolio.
As for options info, below are the Morning Report Lists so you can see what options activity is going on.
App: Toms Option Tools
Toms Option Tools scan the markets for bullish and bearish trade opportunities using our proprietary scans and strategy algorithms. TTR Darknet finds bullish entries based on triple stack channel collisions. Money Calendar identifies seasonal patterns with at least 90% accuracy looking back 10 years. Weekly Cash Clock finds short term opportunities that last a week on average. Microcurrency Trader applies Darknet technology and moving averages to cryptocurrencies. Velocity Trader utilizes volume spike and Velocity indicators on custom stock lists. Quantum Scripts scans the markets for momentum acceleration signals and employs Quantum noise filters. Optimal Trader finds directional pre-earnings opportunities that are optimized for entry date, stock movement, and volatility surge. My Trades tracks the profit/loss of your trades, displays stock charts and risk graphs, creates new trades, and edits existing trades. Morning Report provides top 10 option rankings in 6 categories each day.
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