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Technical Outlook (SPX):

  • A light sell-off  yesterday that still saw a strong big of volume overall. 
  • All the overnight gains have been quickly wiped out prior to today's open. 
  • Key support today exists at 2040. If this breaks a double top confirms on the daily and also on the 30 minute chart. 
  • So far 2040 has held when tested. 
  • VIX rose 2.3% yesterday to 15.80. 
  • SPX has been down 4 out of the last 5 weeks, yet surprisingly VIX is still below 16!
  • T2108 indicates that the selling may just now be getting started in this market as 44% of stocks still remain above their 40-day moving average. 
  • It has been over 20 years since we have not seen two straight days where the market finished higher. 
  • Plenty of uncertainty remains in the market short-term. Euro and oil are major players in the market's direction currently.
  • Oil remains extremely volatile and becoming more so each and every day. Very difficult to trade - as are the oil stocks. 
  • 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:


Chart for SPX:

SP 500 Market Analysis 3-27-15

Technical Outlook (SPX):

  • SPX had a huge sell-off yesterday taking it down 30 points and to the rising trend line off of the 2/2 lows.
  • 50-day, 20-day and 10-day moving averages were all broken with little contest yesterday. 
  • Volume on SPY was fairly strongly yesterday. 
  • VIX rose 13.4% to 15.44
  • T2108 indicates that the selling may just now be getting started in this market as 46% of stocks still remain above their 40-day moving average. 
  • It has been over 20 years since we have not seen two straight days where the market finished higher. 
  • Plenty of uncertainty remains in the market short-term. Euro and oil are major players in the market's direction currently.
  • Oil remains extremely volatile and becoming more so each and every day. Very difficult to trade - as are the oil stocks. 
  • 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:


Chart for SPX:

SP 500 Market Analysis 3-26-15

Technical Outlook (SPX):

  • SPX broke the down-up-down-up pattern yesterday by finishing lower two consecutive days. 
  • It has been over a month since the last time SPX finished higher two straight days. 
  • SPX lost the 5 day moving average yesterday. 
  • VIX rose a moderate 1.5% to 13.62. 
  • SPX 30 minute chart has a rising trend line off of the 3/13 lows that remains in tact, but had price action from yesterday's session close right on the trend line. That means the pattern needs an immediate bounce from it today. 
  • Also, on the same time frame, bears have an opportunity to create a lower-low on the chart by pushing price below 2085. 
  • Volume continues to come in very weak the last two days - less than half of what we had seen in SPY on previous days. 
  • The lack of day-to-day continuation to the upside, despite being only a couple of points from all-time highs help define just how choppy and unpredictable the market has been. 
  • Plenty of uncertainty remains in the market short-term. Euro and oil are major players in the market's direction currently.
  • Oil remains extremely volatile and becoming more so each and every day. Very difficult to trade - as are the oil stocks. 
  • 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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ryan1Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida. More >>

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