Momentum Options

Pre-Market Update: The bulls made a run at resistance on Thursday following a slow and sluggish start to the day. Trading was tight and choppy throughout the session, but a late-day fade gave the bears the overall win.

Pre-Market Update: Fear swept through Wall Street on Wednesday as the bears made their most significant move of the year. The technical damage caused from yesterday’s pullback was severe, but the bounce off of the lows might be telling another story.

Pre-Market Update: The bulls ran into trouble on Tuesday following China’s decision to devalue its currency. The losses wiped out Monday’s gains as selling pressure picked up during the second half of trading. The technical damage was severe, and a “death cross” officially formed on the Dow Jones, with the 50-day moving average falling below the 200-day moving average.

Pre-Market Update: The bulls snapped two streaks to start the week as they recovered the first layers of resistance. Monday’s market win not only snapped a seven-session losing streak for the Dow, but it also gave the blue-chips their first Monday win in three weeks.

Pre-Market Update: The bulls had trouble out the gate at the start of last week, as the Dow fell for the second-straight Monday. The VIX closed above 12.50, and Apple (AAPL, $115.52, up $0.39) dropped below $120 and its 200-day moving average for the first time in two years. All three of these were great clues that the rest of the week would be wild.

Pre-Market Update: Wednesday’s action in the S&P 500 Volatility Index ($VIX, 13.96, up 1.45) gave me a funny, but good, feeling that we would be locking in profits on some of our current trades as we headed into Thursday’s session. Although the market showed some strength on the open, the bears took over and pushed the second layers of support shortly afterwards.

Pre-Market Update: The bulls nearly got a clean sweep on Wednesday, but the blue-chips struggled to join the parade. For the most part, the bulls ended their three-session skid, but deeper concerns remain, as a number of high-profile companies continue to miss revenue expectations.

Pre-Market Update: The bears recorded their third-straight win on Tuesday following a tight and choppy session. The bulls showed a little life after testing resistance, but the late-day fade opened fresh wounds.

Pre-Market Update: The bulls were looking to get their third-straight win on a choppy Thursday and nearly got the hat trick before the blue-chips slipped into the close. The bulls are having a good July, as three of the four major indexes are higher as we go into the last trading session of the month. The small-caps are still struggling, however, and will likely finish the month lower.

Pre-Market Update: The market continued its late-July pullback last week, and the indices finished near multi-month lows. However, the five-session slide ended on Tuesday, as the bulls rebounded to push resistance and prior support.

Pre-Market Update: The bulls were looking to get their third-straight win on a choppy Thursday and nearly got the hat trick before the blue-chips slipped into the close. The bulls are having a good July, as three of the four major indexes are higher as we go into the last trading session of the month. The small-caps are still struggling, however, and will likely finish the month lower.

Pre-Market Update: The bulls posted their second-straight win on Wednesday and showed some follow-through from Tuesday’s takeoff. The bears tried to hold the second layers of resistance, but they failed for the most part, with the VIX closing right at the 12.50 level.

Pre-Market Update: The market rebounded on Tuesday to snap a five-session slide, as momentum increased during the second half of trading. Also, while one day doesn’t make a trend, the VIX collapsed back below 15 yesterday. The bulls still face numerous headwinds this week, but another strong close today could lead to additional short covering.

Pre-Market Update: The bears continued their attack on the lower levels of support on Monday, as the market slid for the fifth-straight session. Although the headlines blamed China, oil and the dollar for the decline, the technical picture had already given us the clues that more damage was coming.

Pre-Market Update: The bulls got off to a good start last week, as the market edged higher to push resistance and fresh all-time highs. However, the small-caps acted weak, and trading was tight ahead of a busy week for earnings.

Pre-Market Update: The bears did a little damage on Thursday, as they cracked the first layers of support following another round of mixed earnings results. The heavy flow of announcements continued after the closing bell, with Amazon.com (AMZN, $482.18, down $6.09) zooming 17% on better-than-expected numbers. This sets up the possibility of a continued trading range if the bulls rebound today.

Pre-Market Update: The market finished mixed on Wednesday, with support and resistance holding on both sides. The possibility of a continued trading range with upside potential for the bulls is still high, but further weakness could tilt those odds in favor of the bears.

Pre-Market Update: The market struggled at Tuesday’s open and got progressively worse throughout the session. Although a few Dow stocks accounted for the majority of the losses, Wall Street seemed nervous ahead of Apple’s (AAPL, $130.75, down $1.32) earnings report. They had reason to be, as shares were pushing $120 in after-hours trading.

Pre-Market Update: The market traded in a tight range on Monday, but the bulls managed to get the overall win despite a slip in the small-caps. Volatility spiked into the close but was also tight, as the VIX stayed between 11.50 and 12.50.

Pre-Market Update: The market finally got some resolution on Greece as the country took the final steps toward its third — yes, third — bailout plan. Germany folded its hand and signed off on the handout as it feared a Greek exit would create “chaos” on the euro.

Pre-Market Update: The indexes rebounded on Thursday to push past their upper resistance levels, and they are now on the verge of fresh all-time highs. Tech lead the way higher and got some good news after the close, with Google (GOOG) topping earnings expectations.

Pre-Market Update: The bulls cleared additional layers of resistance on Tuesday as the market closed higher for the fourth-straight session. The VIX is relaxing, and second-quarter earnings are coming in well versus Wall Street’s forecasts. Geopolitical headwinds remain, but the indexes are once again eyeing historic highs.

Pre-Market Update: The bulls cleared additional layers of resistance on Tuesday as the market closed higher for the fourth-straight session. The VIX is relaxing, and second-quarter earnings are coming in well versus Wall Street’s forecasts. Geopolitical headwinds remain, but the indexes are once again eyeing historic highs.

Pre-Market Update: The bulls continue to show why it has been hard to turn your back on them this year. Although numerous calls for a market top poured in through June and into July, I’ve talked about the possibility of a snapback rally this month.

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Pre-Market Update: The bulls made a run past the resistance levels that served as prior support on Thursday morning, but the bulk of the day’s gains evaporated during the second half of trading. The indexes ended the session giving mixed signals, as global headwinds continue to cause uncertainty. The VIX ended the session higher after tripping 20 for the first time since early February.

Pre-Market Update: It was a frustrating day for Wall Street on Wednesday, as the halt of trading on the New York Stock Exchange lasted into the final hour of the session. Although the “technical glitch” was not blamed on a cyber-attack, other financial websites went dark for a period of time as well. The technical damage that has been done to the major indices is now reaching a breaking point, but the bulls held the last lines of defense into the close.

Pre-Market Update: The bears cracked lower levels of support and pushed the VIX near 20 again on Tuesday. However, their efforts were wasted, as a powerful snapback rally ensued off of the lows. The bulls still struggled with resistance, but a bottoming process could form if there is any follow-through today.

Pre-Market Update: The bulls brushed off Greece’s latest worries to hold support but failed at gaining traction on Monday. The bears held resistance to keep the indices within their five-month trading range and appear to have more momentum at the moment.

Pre-Market Update: The technical picture continues to show additional weakness but any damage done today and this week will be blamed directly on Greece. The country’s citizens voted “no” by more than a 60% to 40% margin against further bailout conditions and aid. The decision to go it alone could result in pushing the country closer to bankruptcy and an exit from the euro currency. However, I wouldn’t be surprised if new developments came about in the coming weeks to still “save” the country.

Pre-Market Update: The bulls showed why it has been hard to throw the towel in on a continued run to higher highs, as they recovered the first layers of resistance on Wednesday. More headlines out of Greece swayed the market, and the technical picture is still showing major volatility ahead.

Pre-Market Update: The bulls made a push to the resistance levels that had previously served as support, but the bears held Tuesday’s gains in check. The second waves of support held, but there are two more days of headlines this week that could sway Wall Street going into July.

Pre-Market Update: Wall Street tried to remain calm as they preached caution during Monday’s pullback. However, I’d like to see how the suits-and-ties react if the selling pressure continues today and for the rest of the week.

Pre-Market Update: The bears made some noise last week as the circus in Greece continued. Like all good clowns, they will eventually leave town, but the clock is ticking as the country’s debt debacle is once again coming down to the wire.

Pre-Market Update: The market pulled back for a second-straight session on Thursday, as traders remained worried about the latest rumors of a Greece deal that has been in flux constantly. The clock is ticking on the country’s fate concerning its debt issues, and the outcome will likely be decided between now and early next week.

Pre-Market Update: The bears returned on Wednesday and held down the market on the open, as headlines about Greece ignited new fears of a possible default. These types of helter-skelter market moves will likely continue for the rest of the week and into next until Greece or the European zombies pull the country out of its current debt misery.

Pre-Market Update: The bulls extended their winning streak another day after tapping fresh all-time highs on Tuesday. The pullback off of the peaks held fresh support, and the VIX closed below 12.50.

Pre-Market Update: The bulls ended a two-session Monday skid to push fresh all-time highs on the Nasdaq and Russell 2000. The Dow and S&P 500 made solid gains as well and are back on track to test their record highs this week on continued momentum.

Pre-Market Update: Despite Friday’s pullback, the bulls wrapped up a successful week and reclaimed resistance while setting historic highs in the process.

Pre-Market Update: I mentioned that all-times highs for the major indices were still in the mix, and Thursday’s run into blue-sky territory had the short-sellers covering. With June options expiring today, the action could stay hot as the bulls try to extend their winning streak to four-straight sessions.