Rocket030723   Rocket Equities & Options Report By Tommy O’Brien Mar 7, 2023   Powell’s speech is out, and markets are reacting to higher than expected rates coming down the line. The ES is on its way to 3,825, which would complete an AB = CD, as well as bring it back to the lows as we came into the new year, and right at the .618 of the prior move higher in the markets. On a daily chart you can see that this 3,825 area is also the .618 from the acceleration higher in the market since the October...

  Rocket Equities & Options Report By Tommy O’Brien Feb 21, 2023   In last Monday's letter, I talked about the market looking toppy at about the 4,140 price area. It made it all the way up to a spike of 4,186 a week ago, and then the collapse really began to take hold Thursday afternoon at about the 4,140 price area. I would have shorted markets again this morning if we hadn’t open down about 1.25%. We will get moves in both ways in this market, as we move to lower price over the next 3 months.  The SPY just...

Rocket012323   Rocket Equities & Options Report By Tommy O’Brien Feb 13th, 2023   The markets are trading higher into the CPI data tomorrow morning. We are at some critical areas technically in the indices. Markets look toppy at the 4,140 area, yet we have said that before. We will see how CPI comes in tomorrow, and how markets react. I will have an update out later this week.   Lots of companies still reporting this week, on our radar: Tuesday before the open: KO Tuesday after the close: ABNB Wednesday after the close: SHOP Thursday after the close: AMAT,...

Rocket012323   Rocket Equities & Options Report By Tommy O’Brien January 23rd, 2023   The markets are continuing to push to higher in the face of possible slow downs in the data. We have a decent flow of data this week all leading up to the Fed meeting next Tuesday and Wednesday. This week, Tuesday, we get S&P US Manufacturing/Services PMI. Thursday we get preliminary 4th quarter GDP from the Commerce Dept. Economists are looking for GDP to grow at 1.5% seasonally adjusted annual rate in the last 3 months of 2022. We also get jobless claims, durable goods, and...

Rocket010923   Rocket Equities & Options Report By Tommy O’Brien January 9th, 2023   The markets are continuing to accelerate higher following Friday’s jobs number. We are going short this market. The SPY is nearing the $394 price point, which is near the .618 of the move lower since December 14th. We are going to purchase a put spread below the market, going out a couple months to March 17th expiration. The expected move in either direction for the SPY March 17th options right now is about $30.83, which is about a 7.85% move in either direction over the next...