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Searching for Support in Stocks

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After a significant move and breakout above resistance levels, the equity markets are going through a much needed pullback into recent price action. So far, this action is healthy, and it makes sense to start building a shopping list of names you like on lower prices, as well as relative strength plays that are building out bases.

Downside Targets

As the markets have been in a range since the beginning of the year, there are plenty of support areas in which it would be logical for buyers to step in.

In this episode of IWO Into the Close, we discuss:

  • What retracement levels could become important on a further pullback in equities
  • How silver is selling hard, but a sharp reversal may not make sense
  • How equity bulls and bears alike need to keep an eye on the dollar
  • Potential hedges that could still work out if the market gets a little loose
  • Individual requests from the stream

You can view the video below:

by Steven Place

Steven Place is the founder and head trader at investingwithoptions.com/