Pre Market OCT 21, 2024

Stocks are slightly red here in the Pre Market this morning. That is notable as they were higher in over night trading. And trading activity was higher than usual also

Goldman Sachs just came out with a report stating that they have revised their 10 year forecast. The S+P 500 which had been gaining 13% annual returns they believe to slow down to only 3% returns for the next decade

That’s their analysts opinion, not fact, not yet at least. What is in alignment with that is that the market is showing prices have stalled. META for example. I mentioned last week it should be up above 610 and not down at 575, that was just to keep pace with the other tech stocks

You may of noticed that in the last month I have posted about trades in tight ranges like with CAT… The 390 / 395 seems to be a theme, wash , rinse and repeat. As Options traders we can make money with that. Stock investors should of entered when they were alerted down at 330

Financial outlets, newsletters, even podcasts are talking about one thing, trading ranges, and the ATH’s…. Here’s the thing, the ATH’s are very small percentage gains, very very small…. Finding breakouts has become harder as of late, but we here at theoptionscoach.net are diligent with our work in that area. Case in point is AGX which we highlighted yesterday, it’s now up over 43% as a stock since we found it and shared it here only one month ago

With this slow down and tight ranges investors are looking for that “magic moment” that “great scan” that produces, we scan 6 days a week here, and offer the best of the best. Earnings is here, I can’t stress enough that fresh opportunities will be upon us. Rather than chase stocks we let them come to us

Nothing is sinking here in the Pre, it’s all slightly red, and could change with the wind
S+P Support is at 5,880, that’s a little conservative but for now that’s it
Time to grind

The Options Coach