Technical Outlook:

  • SPX sold off ever so slightly yesterday despite breadth of advancing stocks vs. declining stocks being absolutely horrible. 
  • Today there is additional weakness facing the market at the open with Bloomberg Terminal going down overnight, China opening their market to short sellers and continued concerns about Greece's eventual default on their debt. 
  • Despite SPX being up 7 out of last 10 trading sessions the progress the indices have made has been far less than I'd had expected. Nonetheless, heading into today, the charts are setting up very bullish. 
  • This morning it will be imperative for the bulls to buy this dip and keep price from dipping below 2083 or Tuesday's lows. 
  • 5-day moving average has also been a key, rising support level for SPX of late. This morning it will break below it - watch for whether it is able to reclaim the MA by the closing bell. 
  • VIX continues to be astoundingly weak as it now drops to 12.60 and key support. 
  • SPY volume, not surprising, was very weak yesterday. 
  • A significant sell-off in excess of 15-20 points on SPX would be crippling for the bulls and create new conversations of renewed selling. 
  • SPX needs to hold 2083 on 30 minute chart to avoid a lower-low. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

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Do yourself a favor and avoid the large drawdowns of trading an uncertain market and start profiting consistently by trading with me in the SharePlanner Splash Zone. Try it out today with a with a Free 7-Day Trial. With your membership, you will receive all of my swing-trade alerts via email and text (international too) as well as access to my world-class chat-room that I trade in each and every day. Click Here to Join!

Here's tomorrow's swing-trading watch-list:

Long American Express (AXP)

t-axp

Long Western Union (WU)

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I've lovin' the look of the SharePlanner Reversal Indicator and how well it is lining up with what we are seeing on the charts right now. 

On the Daily SPRI the chart is at extremes but that shouldn't be too much of a problem, as it tends to stay there for weeks at a time during bullish markets. 

Here's the Daily SPRI:

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Technical Outlook:

  • Despite a late day sell-off that took a third of the market gains on SPX, yesterday showed significant strength in breaking the descending trend-line off of the March Highs.  
  • Ideally though, it would have been far better if SPX could have closed above 2108 which also marks the previous higher-low from 3/20 and as a result would have created new higher-highs for traders to get behind. 
  • Precarious situation for bulls this morning, where SPX is gapping down in a much more aggressive manner than what we have seen of late. It will be absolutely crucial that they stem the losses, and create manageable losses, or push the market back into the green. 
  • A significant sell-off in excess of 15-20 points on SPX would be crippling for the bulls and create new conversations of renewed selling. 
  • SPX needs to hold 2083 on 30 minute chart to avoid a lower-low. 
  • VIX sitting right at the 12.84 mark which also represents key support in recent weeks and an area where bears have managed to sell off the market repeatedly on the indices. 
  • Volume was much stronger yesterday than what we have seen in the past couple of weeks. 
  • The price moves of late aren't as as big as we have become used to seeing. The volatility has dropped off significantly. 
  • This is strongest/most bullish market that we've seen since early February. 
  • The convergence of the 5, 10, 20, and 50-day moving averages is a perfect example of how non-directional this market has been over the course of this year until last week. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

Read more...

Do yourself a favor and avoid the large drawdowns of trading an uncertain market and start profiting consistently by trading with me in the SharePlanner Splash Zone. Try it out today with a with a Free 7-Day Trial. With your membership, you will receive all of my swing-trade alerts via email and text (international too) as well as access to my world-class chat-room that I trade in each and every day. Click Here to Join!

Here's tomorrow's swing-trading watch-list:

Long Aon Corp (AON)

aon

Long SunPower (SPWR)

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With the market finally showing signs of breaking out for the first time this entire year, now is the time to become a member of the SharePlanner Splash Zone

I'm not promising instant riches, there are plenty of other services out there that are willing to do that and in the process leave you empty of all your capital. Instead, what I offer is a system of swing-trading that leaves your consistently profitable each and every year. I have been through every kind of market and have traded them successfully, including 2008 where most traders were wiped out all together. 

Whether it is a bull market or bear market, it doesn't really matter, because at the end of the day I am simply looking for the trend that can be followed and profited off of

When it comes to Risk, this is by far the most important part of all my trading. If the risk is managed appropriately, the profits will follow. So many services will sell you on their ability to "pick stocks", but I am here to tell you that it has much less to do with picking the right stock, and much more about how you manage the risk associated with the stock. 

Yes, picking the right stock is important, but it means nothing if you don't manage the loss and keep it tight as a result. The management of the trade is most important, and if you have someone that is putting you in low dollar, low volume stocks and taking losses of 10-15%, then you need to run, and run fast. Those are the types of traders that will blow up your accounts. They only find it worth mentioning their winners, but at the end of the day, they are pumping stocks up for their benefit and your detriment. 

On the other hand, I will trade the stocks that are reputable, established, and with a heavy dose of volume behind them (as in 1 million or more on average). You won't find me trading these stocks under $10 and yet I still find a way for my members to consistently profit in big ways year-in and year-out. 

So join me in the SharePlanner Splash Zone Today, and start benefiting from my low-risk swing-trading setups that you will receive via email, text (international too) and in the Splash Zone Chat Room where I am at each and every day. You can even check out my past performance that I provide for everyone to look at and see


With The Splash Zone, you will get my low risk and high probability trade setups that no other trading service can offer.

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I did a Google Hangout today with traders. In the hangout I covered the major indices as well as the following stocks: CNO, SPWR, BSX, NUS, DISCA, BP, PBI, GDX, USO, and NUGT

Here's the Google Hangout:

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Technical Outlook:

  • Yesterday was a significant test for the bulls as price threatened to give back much of the gains of recent days. Instead the dip buyers came in and returned the market to the green for the day. 
  • Price action formed a nice hammer on SPY with a candle shadow that bounce right off of the 10, 20, and 50-day moving averages
  • VIX, after an initial surge early on, finally dropped off, falling 1.9% to 13.67. 
  • Yesterday's intraday sell-off formed a very nice higher-low on the SPX 30 minute chart. Very possible we add a higher-high to that price pattern at 2108 or higher
  • The price moves of late aren't as as big as we have become used to seeing. The volatility has dropped off significantly. 
  • Volume was once again light on SPY yesterday. 
  • This is strongest/most bullish market that we've seen since early February. 
  • Double bottom on the 30 minute chart was confirmed on Friday. 
  • Bears are quickly losing their grip on this market - needs to get price back below 2040 whcih is a good ways a way now. 
  • The convergence of the 5, 10, 20, and 50-day moving averages is a perfect example of how non-directional this market has been over the course of this year until last week. 
  • The market doesn't care about the economy nor earnings. That is not what is driving it. The market only cares about what the Fed is doing to keep equities propped up. 


My Trades:

Read more...

Do yourself a favor and avoid the large drawdowns of trading an uncertain market and start profiting consistently by trading with me in the SharePlanner Splash Zone. Try it out today with a with a Free 7-Day Trial. With your membership, you will receive all of my swing-trade alerts via email and text (international too) as well as access to my world-class chat-room that I trade in each and every day. Click Here to Join!

Here's tomorrow's swing-trading watch-list:

Long Qlik Technologies (QLIK)

qlik-1

Long AbbVie (ABBV)

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The bears - they've tried rearing their heads the last couple of days, and it really looked like they were going to send this market back down to the 2040 level for a little while there this morning before finally popping back up again. 

Nonetheless, the market has been floundering without direction to start this week off, and eventually that resolves itself to either the upside or downside (obviously). So with direction hanging in the air, keep this bearish list of trade setups handy just in case you come to need it. 

Here's the bearish trade setups for the week

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