Market Report Bulls Run Wild, Fireworks Coming
By Todd Horwitz on Jun 27, 2021 at 8:32:11 AM ∙ Comments

 Market Report Bulls Run Wild, Fireworks Coming



Todd Horwitz Chief Strategist

Be Prepared not Surprised.

Last week we asked the question; was the trend changing? We warned that although markets looked like there was trouble not to get too aggressive. Last week saw the S+P and Nasdaq made new highs while the Dow and Russell got close.

This is why we always warn that markets are always right opinions seldom are. Between the pundits and other market prognosticators they usually give misleading information. Always watch and trade from the price action, that will guide you in the most probable direction.

No surprise that the top option strategies remain bullish with long calls leading the way. They are closely followed by Bull Put Spreads, Bull Puts, Bull Call Spreads. We must move down the list to find any bearish strategies.

When it comes to options, we must remember that we don’t know the other side of the trade which means they could be bullish on the surface. However, based on the price action and the VIX it appears there is more room to run.

The bullish action comes heavily in tech led by QQQ, AMD, TSLA, AAPL and ROKU while the bear symbols are led by SPY, GLD, COST, HD and XLE. The bears symbols are consistent with what is happening in retail and metals.

As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control. 

Todd “Bubba” Horwitz

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