{"id":23186,"date":"2024-04-15T09:29:21","date_gmt":"2024-04-15T14:29:21","guid":{"rendered":"https:\/\/www.eoption.com\/?p=23186"},"modified":"2024-04-15T09:29:21","modified_gmt":"2024-04-15T14:29:21","slug":"daily-commentary-april-15-2024","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/daily-commentary-april-15-2024\/","title":{"rendered":"Daily Commentary: April 15, 2024"},"content":{"rendered":"
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Selling Pressure Will Abate<\/h3>\n<\/div>\n
Posted by Pete Stolcers on April 15
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I believe we will see more selling pressure this week. The move lower will be stubborn with mixed overlapping candles. Trade both sides and look for good intraday ranges.<\/h4>\n

PRE-OPEN MARKET COMMENTS MONDAY – The selling pressure last week tells me that buyers are relatively passive. They have been waiting for a dip and they are getting one. This move is likely to be brief and shallow, but we are not going to guess. Keep your trades short-term in duration and remain balanced. Buyers and sellers are battling it out. When one side gains control, the move will be fairly sustained intraday. When it loses its momentum, the other side will take control. We are seeing lots of great stocks on both sides. <\/p>\n

If we start to see signs of support this week and if the market does not drop much below the 50-day MA, I will start to be more bullish. I believe that we will see a nice bounce into mega cap tech earnings. AI prospects will keep buyers engaged. Remember, economic growth has been strong. That bodes well for profits. The trend strength since November has been excellent and buyers have been waiting for a dip. They are getting it. <\/p>\n

I believe a nice buying opportunity is setting up. Be patient and wait for signs of support. Another test of the 50-day and a bounce would be good. <\/p>\n

Obviously, if the market blows through the 50-day MA this week, we reduce our bullish expectations. <\/p>\n

This is a holding period. We need to evaluate the price action this week and we need to watch for the “tells” I have mentioned. Support is at the 50-day MA and resistance is at AVWAPQ.<\/p>\n<\/p><\/div>\n

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Content is provided by OneOption, LLC<\/a>, which has no affiliation with Regal Securities, Inc. (“Regal”) This commentary is provided for information purposes only, and is not a recommendation, offer or solicitation by Regal to buy or sell securities or to adopt any investment strategy. Regal has not participated in the creation of the OneOption content and does not directly or indirectly endorse the content. Any reliance on this material is at the sole discretion of the reader.<\/em><\/p>\n<\/p><\/div>\n

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Selling Pressure Will Abate Posted by Pete Stolcers on April 15 www.oneoption.com I believe we will see more selling pressure this week. The move lower will be stubborn with mixed overlapping candles. Trade both sides and look for good intraday ranges. PRE-OPEN MARKET COMMENTS MONDAY – The selling pressure last week tells me that buyers are relatively passive. They have … Read More<\/a><\/p>\n","protected":false},"author":12,"featured_media":1318,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-23186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1option-commentary"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts\/23186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/comments?post=23186"}],"version-history":[{"count":1,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts\/23186\/revisions"}],"predecessor-version":[{"id":23187,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts\/23186\/revisions\/23187"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/media\/1318"}],"wp:attachment":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/media?parent=23186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/categories?post=23186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/tags?post=23186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}