Options Outlook for the Week of November 4: Banks and Tech Not Moving Well Together
Markets continue higher with less and less volatility.
S&P 500 (NYSE: SPY) has been able to hang the 176 line relatively well as we get through the bulk of the big earnings names.
Overall, this is a stock picker's market. Banks and techs are not moving well together, showing that this is majorly an index move to the upside. Given the lack of economic data and catalyst, this type of action is here to burn traders.
It is important to find the right movers in the markets.
One thing to pay attention to is if those higher flyers don't move well to the downside while indexes are pulling back, most likely they'd pay off as a good dip buy.
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