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Good Wednesday Morning, MPTraders! June 17, 2026-- Pre-Market Update: -- Today is and will be all about new Fed Head Kevin Warsh's impact on the FOMC, on the wording of his first monetary policy statement, and on the markets during his inaugural press conference...
With the move down from this week’s high not counting well as a standard Fibonacci Pinball structure, it leaves us with the potential that the initial move lower was a leading diagonal for wave 1 of the (c) wave. And, assuming this is the correct count, that makes today’s bounce a wave 2.This is where I add my usual warning about leading diagonals not being strong trading cues, as they can just as easily be a corrective structure.
Trading options can seem intimidating at first. I know plenty of traders who feel this way. For some complex strategies, that fear is understandable. But for basic options, trading can be as simple as buying and selling a stock.Before dismissing options outright, it is worth taking a step back to see just how straightforward and powerful they can be.Like any tool, options come with pros and cons. But used correctly, even a single option contract can offer significant leverage, allowing you to control a large position with relatively little capital.
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