The Stock Market Selling Continues for a Third Day in a Row 

Tom Gentile

Posted in
Daily Report

By: Tom Gentile
August 30th, 2022

1 min read

The prospects of a bounce of any kind following last Friday’s sell off is nowhere to be found as the financial markets sold off for a third day in a row (Friday is included in those three days).

The S&P 500 fell 1%. The Nasdaq Composite lost 1.2%. Lastly, the Dow Jones Industrial Average traded down 0.8%.

Will there or won’t there be a bounce? It’s possible and likely going to happen, but likely not anytime soon. And if and when we do it may all end up being a part of a pattern on the charts showing lower lows and lower highs in price. THAT is a downtrend, and it is bearish.

To see what options activity is going on for both the Calls and Put side of things let’s look at the most recent Morning Reports lists:

Whichever way you anticipate the markets; for us we see the path of least resistance being to the downside, one can start with their selection process and discussion with their financial pro’s/brokers of what to trade with these lists:

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