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

Long Gilead Sciences (GILD)

gild

Long Dow Chemical (DOW)

dow

Long Cree (CREE)

cree

Short Best Buy (BBY)

bby

Short Target (TGT)

tgt

Pre-market update:

  • Asian markets traded 0.1% higher.
  • European markets are trading 0.4% lower.
  • US futures are trading 1.0% higher ahead of the market open. 


Economic reports due out (all times are eastern): 
GDP (8:30), Employment Cost Index (8:30), Chicago PMI (9:45), Consumer Sentiment (10), Farm Prices (3)

Technical Outlook (SPX):

  • Strong bounce by the bulls yesterday, rallying 33 points off of its lows of the day. Unlike previous bounces where follow through the following day was a bull ritual, the bears are managing to wipe out all those gains when the market gaps down this morning. 
  • Three key price levels to watch on SPX today: 1989 (yesterday's low), 1988 (January's lows), 1972 (December's lows). A violation and close below any of these is problematic for the bulls going forward. 
  • A move above 2064 would have been ideal for the bulls to break the market out of the month long congestion pattern we have been stuck in. It would also confirm an inverse head and shoulders pattern on the daily.
  • VIX dropped 8.2% down to 18.76. 
  • T2108 (% of stocks trading above their 40-day moving average) rose 11.4% to 48.45%. 
  • The 200-day moving average (currently at 1973) could also come in play in the coming week. 
  • The difficult issue with this market is the Fed regularly releasing dovish comments that temporarily stabilizes the market and thereby squeezes the bears out of their short positions. This was clearly seen yesterday afternoon. 
  • A move below 1988 would spell bad news for the bulls and create a new lower-low in the market. 
  • On the spectrum of trade-able markets, January will rank as one of the most difficult types you can experience as a trader. 
  • 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...

It was an incredible year of trading in 2014. Now I am in the thick of 2015 and another year of profitability. Whether you are new to trading or experienced, you need to be part of the SharePlanner Splash Zone by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all of my swing-trade alerts via email and text (international too). Not to mention, you can also auto-trade all the trades that make. If you'd like to see just how good my past performance was in 2014 and over the years, you can do so by checking out my past performance

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

Long Aetna (AET)

aet

Long Eli Lilly (LLY)

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The SharePlanner Reversal Indicator charts are both pointing up but are both on shaky ground. 

The Daily SPRI is in the latter parts of its move, and nearing what could be some resistance before reaching the extremes. 

Here's the Daily SPRI:

Read more...

For immediate release

Information received since the Federal Open Market Committee met in December suggests that economic activity has been expanding at a solid pace.  Labor market conditions have improved further, with strong job gains and a lower unemployment rate.  On balance, a range of labor market indicators suggests that underutilization of labor resources continues to diminish.  Household spending is rising moderately; recent declines in energy prices have boosted household purchasing power.  Business fixed investment is advancing, while the recovery in the housing sector remains slow.  Inflation has declined further below the Committee’s longer-run objective, largely reflecting declines in energy prices.  Market-based measures of inflation compensation have declined substantially in recent months; survey-based measures of longer-term inflation expectations have remained stable.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.  The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate.  The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced.  Inflation is anticipated to decline further in the near term, but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of lower energy prices and other factors dissipate.  The Committee continues to monitor inflation developments closely.

Read more...

Pre-market update:

  • Asian markets traded 0.2% higher.
  • European markets are trading 0.5% lower.
  • US futures are trading 0.4% higher ahead of the market open. 


Economic reports due out (all times are eastern): 
MBA Purchase Applications (7:30), EIA Petroleum Status Report (10:30), FOMC Meeting Announcement (2)

Technical Outlook (SPX):

  • Heavy, heavy sell-off yesterday that may have started the fifth reversal of the month of January. Insane for traders trying to find a consistent trend to take advantage of. 
  • Apple (AAPL) earnings last night provided at the least, a temporary halt to the selling with a huge beat.
  • Potential inverse head and shoulders pattern forming on the daily SPX chart. Above 2064 would confirm this price pattern. 
  • FOMC statement comes out this afternoon, and this could provide an additional amount of volatile price action. Beware of moves and counter moves. However, of late,  the counter-moves have not been as strong and have often times stuck with the original move. 
  • Yesterday's sell-off and macro events world-wide likely means that the Fed will be very choice with their words and go the extra mile to not aggravate the markets with the language in their statement. 
  • Despite a huge sell-off, VIX finished well off its highs of the day - up 11% to 17.22. 
  • T2108 (% of stocks trading below their 40-day moving average) suggests that the selling wasn't as strong as the indices might have indicated - it only finished down 3.5% down to 51.48%. 
  • A move below 1988 would spell bad news for the bulls and create a new lower-low in the market. 
  • SPX managed to break the 5, 10, 20, and 50-day moving averages yesterday with no support underneath. 
  • On the spectrum of trade-able markets, January will rank as one of the most difficult types you can experience as a trader. 
  • 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...

It was an incredible year of trading in 2014. Now I am in the thick of 2015 and another year of profitability. Whether you are new to trading or experienced, you need to be part of the SharePlanner Splash Zone by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all of my swing-trade alerts via email and text (international too). Not to mention, you can also auto-trade all the trades that make. If you'd like to see just how good my past performance was in 2014 and over the years, you can do so by checking out my past performance

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

Long Teva Pharmaceutical Industries (TEVA)

teva

Read more...

The Dip Buyers came in strong this afternoon and are trying to propel the market back to break even possibly. 

Rarely is it a good thing for SPX to open 30 handles lower and expect that it will stay there. Instead the best sell-offs are those that occur when the market opens higher or flat.  There simply are too many people out there still that sees a gap down as a buying opportunity. 

With that said there are still numerous events this week that could ultimately push the market back lower again - Apple earnings and FOMC statement to name a few. So the list below could remain relevant throughout the week if the news continues to disappoint. 

Here's the bearish list of trade setups:

Read more...

Pre-market update:

  • Asian markets traded 1.0% higher.
  • European markets are trading 1.2% lower.
  • US futures are trading 1.3% lower ahead of the market open. 


Economic reports due out (all times are eastern): 
Durable Goods Orders (8:30), Redbook (8:55), S&P Case Shiller HPI (9), PMI Services Flash (9:45), New Home Sales (10), Consumer Confidence (10), Richmond Fed Manufacturing Index (10), State Street Investor Confidence Index (10)

Technical Outlook (SPX):

  • SPX looking at a significant gap down of about 1.2% at the open due to bad earnings reports and a miss on the durable goods report. 
  • SPX actually had managed to put in a respectable day yesterday and form what was starting to look like a bull flag, but that will be null and void by the market open. 
  • Often times when you see this level of bearishness at the market open, it can often lead to a bounce back once the market opens - don't rule this out from happening today. 
  • The gains from Thursday are likely to be completely wiped out by the market open. 
  • Based on overnight futures actions, SPX is setting up for a bounce at the open. Eight straight red bars on the overnight futures chart. 
  • FOMC meeting tomorrow as well, and depending on what they say, can easily reverse any market perception going forward. 
  • If the market does end up staying down today, it sets up for what would be the fifth direction change for the market in the month of January. 
  • On the spectrum of trade-able markets, January will rank as one of the most difficult types you can experience as a trader. 
  • VIX fell 6.8% down to 15.5.
  • 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...

It was an incredible year of trading in 2014. Now I am in the thick of 2015 and another year of profitability. Whether you are new to trading or experienced, you need to be part of the SharePlanner Splash Zone by signing up for a Free 7-Day Trial where you will be given access to the member chat room as well as receive all of my swing-trade alerts via email and text (international too). Not to mention, you can also auto-trade all the trades that make. If you'd like to see just how good my past performance was in 2014 and over the years, you can do so by checking out my past performance

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

Long American Eagle Outfitters (AEO)

aeo

Read more...

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