Hughes Optioneering Team Update
Stocks, Volatility, and What We’re Watching
Optioneering Team Update March 20, 2026
The market’s been pretty shaky lately, and that weakness we’ve been talking about since mid‑February is starting to show more clearly. The S&P 500 just fell below its 200‑day moving average, which is a big deal because it’s been holding above that level for almost a year. That move suggests the long‑term uptrend is on thin ice, and more downside could be coming if the market stays below it.
A few things are making life hard for stocks right now: energy prices are climbing, interest rates and Treasury yields are rising, and volatility is staying elevated. That combo usually isn’t great for equities, and it’s showing up in the price action. We’re also seeing fewer stocks participate in rallies—market breadth has dropped sharply. Less than half of S&P 500 stocks are now in long‑term uptrends, which points to a potential broader correction ahead.
That said, not everything is struggling. Some areas like energy, utilities, and a few pockets of tech are still holding up well. One standout is Coherent (COHR), which has been strongly outperforming the overall market. It’s in a solid uptrend, has shown strong relative strength, and recent trade setups in the stock have worked very well despite the choppy market.
Looking ahead, there aren’t many big earnings or economic reports coming up, so the market will likely stay driven by technical levels and headlines—especially geopolitical news. Expect continued volatility, stay cautious, and focus on managing risk while keeping an eye out for selective opportunities.
If you’re interested in learning more about Chuck Hughes Optioneering Team strategies, call 1-310-647-5664 or schedule a free consultation to see if the service is right for you.
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