MTM Options Newsletter - How to Project Price Targets

This Week in the Market It was a short week of trading, but stocks were able to close higher last week. Stocks held steady on Friday after President Trump said he isn't planning to quit on the Phase-1 China deal. Potential bearish moves in the market may be seen later this summer, according to a few analysts. Of course, this may mean nothing, but traders and investors need to maintain a cautious tone, especially if the market continues to climb. A continued bullish to non-bearish approach to the market based on technical analysis should be kept in place until some support levels like the 200-day moving average on the S&P 500 are broken. Several economic reports are slated for release this week, including the April jobs report on Friday before the open. The unemployment rate is expected to climb even more, and how much more might determine where the market goes next week. For the most part, quarterly earnings are in the books, but there are a couple of companies that still need to announce. As always, if you don't feel you have an edge, do nothing. Have a healthy and successful week!

Jun 1: Construction Spending Jun 3: Factory Orders Jun 4: Jobless Claims Jun 4: Trade Deficit Jun 4: Productivity Jun 5: Unemployment Jun 5: Consumer Credit Read Our Blog

How to Project Price Targets I was asked this week whether there is a way to project how far a trend will travel or how long a consolidation phase will last. Quite often the two are related. But in this blog, I will focus on setting price projections after a market has broken free from a congestion phase. The most common consolidation patterns take the shape of flags (rectangle) and pennants (triangle) in charts. Just before sharp vertical moves, markets frequently have a series of sessions with below average day ranges and decreasing volume. Furthermore, during these low volume periods there tends to be plenty of Continue Reading ... MTM Watchlist Here are several trade scenarios we will be keeping an eye on in group coaching class this week: CSCO – After breaking through its 200-day moving average, this stock may have room to run. Long calls will be explored. AAPL – The stock continues to struggle to move past some potential resistance in the $322 area. Just like last week, calendar spreads will be looked at. FB – After a crazy move higher over the past two months, FB has stalled. Potential bear calls and bear puts may be looked at with a weak open to the week.

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The strategies in this newsletter are for educational and informative purposes only. All information disclosed in this newsletter should not be considered complete in its entirety. Market Taker Mentoring, Inc. will not be held responsible for changes, oversights, errors or omissions. Dates, prices, news and other information may not be accurate. Please verify all information before trading. You alone are responsible for your own investment decisions. Options involve risk and are not suitable for all investors. Before trading options, please read Characteristics and Risks of Standardized Option (ODD), which can be obtained from your broker; by calling (888) OPTIONS; or from The Options Clearing Corp., 125 S. Franklin St., Suite 1200, Chicago, IL 60606. No statement in this newsletter is intended to be a recommendation or solicitation to buy or sell any security or to provide investment or trading advice. Traders and investors considering options should consult a professional tax advisor as to how taxes may affect the outcome of contemplated options transactions. Copyright Market Taker Mentoring, Inc. 2008 - 2020. All rights reserved. Reproducing or redistributing this content is a violation of federal law.

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