Technical Outlook:

  • Strong follow thorugh yesterday on S&P 500 (SPX) that saw momentum come to a halt at the declining resistance off of the all-time highs. 
  • Yesterday's rally created a big gap that remains unfilled coming into today. 
  • SPDRs S&P 500 (SPY) saw its volume drop off yesterday and even come in below recent averages. 
  • Price action is headed right back towards the chop zone that has plagued SPX for all of July, August, and the beginning of September. 
  • VIX continues to get decimated. This time dropping 9.5% down to 12.02. The index as a whole has dropped 42% since its highs reached on Monday, September 12th. 
  • Crude (/CL) continues to rally for a third straight day. but still in a declining channel going back to the August highs. 
  • SPX 30 minute chart has recently broken out of the recent range that it had been trading through, but now needs to push through the August highs to free itself of the choppiness that has plagued the market for much of the past three months. 
  • The 50-day moving average was broken yesterday on SPX. A solid mark of improvement for the indices going forward. 
  • Resistance had been in the area of 2155 to 2170 - that area was broken yesterday. Still more resistance that looms overhead. 
  • T2108 (% of stocks trading above their 40-day moving average) saw continued bullishness yesterday, rising 23% to close at 56.

My Trades:

Read more...

Join the SharePlanner Splash Zone and start trading with me to see for yourself what a membership to my service can do for your portfolio. Sign up for a Free 7-Day Trial - with your subscription, you will get each and every trade that I make with real-time text and email alerts (international too) as well as access to my chat-room that I trade in each day. Click Here to try it for Free!

Here's your swing-trading watch-list:

Long TD Ameritrade (AMTD)

amtd

Long Discover Financial Services (DFS)

Read more...

Technical Outlook:

  • SPX (SPX) rallied big yesterday as a result of the Federal Reserve deciding to hold off on any interest rate hike until after the election. 
  • Bank of Japan had minimal effect, but it was thew Fed's "we should hike, but won't" policy comments that really goosed the market. 
  • SPX rallied to near the 50-day moving average, but failed to break through or even test it at this point. This morning, it is looking at a gap above it. 
  • Resistance had been in the area of 2155 to 2170. That area should be eclipsed this morning. 
  • At this point, the market is bent on re-testing the all-time highs, if not going right past them. The Nasdaq actually established new all-time highs yesterday. 
  • 20-day moving average was also tested yesterday, and SPX broke through it. 
  • Oil (CL/F) continues to rally strong over the course of the last two days and looks to do the same again today. 
  • SPDRs S&P 500 (SPY) saw its volume increase as well as trade above recent averages. 
  • Most impressive yesterday was the absolute meltdown in the VIX taking it down 16.5% to 13.3. A massive change from where it was just a couple of weeks ago. 
  • T2108 (% of stocks trading above their 40-day moving average) saw a large bump higher - rising 39% to 45.54. 

My Trades:

Read more...

Join the SharePlanner Splash Zone and start trading with me to see for yourself what a membership to my service can do for your portfolio. Sign up for a Free 7-Day Trial - with your subscription, you will get each and every trade that I make with real-time text and email alerts (international too) as well as access to my chat-room that I trade in each day. Click Here to try it for Free!

Here's your swing-trading watch-list:

Long Nvidia (NVDA)

nvda

Long Extended Stay America (STAY)

Read more...

Information received since the Federal Open Market Committee met in July indicates that the labor market has continued to strengthen and growth of economic activity has picked up from the modest pace seen in the first half of this year. Although the unemployment rate is little changed in recent months, job gains have been solid, on average. Household spending has been growing strongly but business fixed investment has remained soft. Inflation has continued to run below the Committee's 2 percent longer-run objective, partly reflecting earlier declines in energy prices and in prices of non-energy imports. Market-based measures of inflation compensation remain low; most survey-based measures of longer-term inflation expectations are little changed, on balance, in recent months.yellen

Read more...

The SharePlanner Reversal Indicator is sitting on extreme bearish levels, that at some point will lead to a bullish reversal or hold out at these levels for another 2-3 weeks. 

We did, with the sell-off from last week get a test of the 2120 level and the market has, up to this point, held that level. 

Read more...

Technical Outlook:

  • S&P 500 (SPX) once again saw a strong attempt at a rally yesterday only fade away as the day wore on, to close yet again at unchanged on the day. That is the second day in a row that SPX has finished flat on the day. A rarity in itself. 
  • Last night the Bank of Japan left the rates unchanged and has resulted in a small rally on the futures market. Today, at 2pm eastern, the Federal Reserve will release its FOMC Statement, and there is a growing suspicion that they might actually raise the rates, which would undoubtedly catch the market by surprise, and result in a heavy dose of selling. 
  • Ultimately though, the consensus is that rates will remain unchanged. So then the wording of the statement becomes key going forward in regards to December's rate hike chances. 
  • Volume on SPDRs S&P 500 (SPY) continues to weaken considerably, and for a second straight day. I look for volume levels to see a notable increase today with the FOMC Statement coming out. 
  • Crude (/CL) seeing somewhat of a bounce following yesterday's reversal and into today. The EIA Petroleum Report due out at 10:30am eastern, will no doubt influence the direction it takes on the day. 
  • The SPX rising trend-line off of the February lows still remains a possible destination for this market. A test would occur at 2115. Overhead, there is plenty of resistance in the 2155 to 2170 area. 
  • This market could still easily reverse back down again, though I think the bears have missed a golden opportunity over the last week, to push this market lower. 
  • If SPX continues to move higher today, it will find some heavy short-term resistance in the 2160-75 area that it will have to deal with. 

My Trades:

Read more...

Join the SharePlanner Splash Zone and start trading with me to see for yourself what a membership to my service can do for your portfolio. Sign up for a Free 7-Day Trial - with your subscription, you will get each and every trade that I make with real-time text and email alerts (international too) as well as access to my chat-room that I trade in each day. Click Here to try it for Free!

Here's your swing-trading watch-list:

Short AbbeVie (ABBV)

abbv

Short Consol Energy (CNX)

Read more...

 There is every reason in the world that this market should pullback and it simply doesn't. Doesn't mean it cruises higher, it just stays in "No-Man's Land". Rallies can't be sustained and sell-offs can't get started. 

That is a stalemate, my friends. 

Read more...

Technical Outlook:

  • S&P 500 (SPX) gave up all of its mornings gains yesterday to close flat on the day. Today looks to be setting up in the AM in a similar fashion as the futures are popping higher. 
  • The trend these days is to ignore Crude (/CL) when it is trading lower, and to rally when it manages to rally. Oil is down prior to the start of the equities market opening, and as a result, the market is ignoring it. 
  • SPX continues to trade in a tightening range following the 9/9 sell-off. Tomorrow, the Bank of Japan and the Federal Reserve will announce their own monetary policy decisions, and it will rock the market in one direction or the other. 
  • Volume on SPDRs S&P 500 (SPY) was incredibly weak on Monday, and was hal f of what we saw on average last week. The reading also came in below recent averages. 
  • The SPX rising trend-line off of the February lows still remains a possible destination for this market. A test would occur at 2115. Overhead, there is plenty of resistance in the 2155 to 2170 area. 
  • This market could still easily reverse back down again, though I think the bears have missed a golden opportunity over the last week, to push this market lower. 
  • If SPX continues to move higher today, it will find some heavy short-term resistance in the 2160-75 area that it will have to deal with. 
  • Crude (/CL) looks to break the September lows and likely move on toward the August lows.

My Trades:

Read more...

Page 1 of 590

<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>