Best Trades After Earnings | MSFT, ABT, NVAX
Yesterday the S&P 500 lost 100 points and the selling was swift and hard. The opening price was the high of the day and we closed near the low of the day. The uptrend line that forms the base of the trading channel will be tested and SPY $372 needs to hold. Earnings from Microsoft, Apple, Facebook and Tesla were not able to keep the market afloat. If the SPY closes below $372 this week we can expect more selling. The storm clouds have been brewing and there was not any single event that sparked the market drop. Bullish sentiment is at extreme levels, margin lending is at record levels, option implied volatilities are low and valuations are rich. The crazy short squeezes (GME) we have seen are an indication that volatility is here to stay. Day trading stock and swing trading options trades were found using Option Stalker searches. Day trading stock and swing trading options picks were bullish and the SPY is bouncing off of support at the uptrend line. Today we are looking for stocks that have heavy volume, technical breakouts and relative strength after posting earnings. These trades set up well for day trading and swing trading. Take the Option Stalker 2 week free trial. http://www.oneoption.com Subscribe: https://www.youtube.com/user/oneoption?sub_confirmation=1 Read my daily pre-open market comments on Twitter https://twitter.com/1OptionsTrading
Yesterday the S&P 500 lost 100 points and the selling was swift and hard. The opening price was the high of the day and we closed near the low of the day. The uptrend line that forms the base of the trading channel will be tested and SPY $372 needs to hold. Earnings from Microsoft, Apple, Facebook and Tesla were not able to keep the market afloat. If the SPY closes below $372 this week we can expect more selling. The storm clouds have been brewing and there was not any single event that sparked the market drop. Bullish sentiment is at extreme levels, margin lending is at record levels, option implied volatilities are low and valuations are rich. The crazy short squeezes (GME) we have seen are an indication that volatility is here to stay. Day trading stock and swing trading options trades were found using Option Stalker searches. Day trading stock and swing trading options picks were bullish and the SPY is bouncing off of support at the uptrend line. Today we are looking for stocks that have heavy volume, technical breakouts and relative strength after posting earnings. These trades set up well for day trading and swing trading. Take the Option Stalker 2 week free trial. http://www.oneoption.com Subscribe: https://www.youtube.com/user/oneoption?sub_confirmation=1 Read my daily pre-open market comments on Twitter https://twitter.com/1OptionsTrading