Daily Trading Plans

Technical Outlook: Fairly quiet session of trading yesterday until the FOMC minutes came out which created a stir as well as a false break higher that was quickly sold.  Oil has shown far greater volatility in the past few days then what we had previously seen over the past two months.  5-day moving average for

Technical Outlook: SPX consolidated yesterday, which in the grand scheme of things wasn’t at all unhealthy for the market.  All SPX needed to insure was that it held the 2120 breakout level and it did.  SPX has the 5-day moving average trailing the price action for the first time in a very long time. Concerns

Technical Outlook: Yesterday’s move confirmed the breakout for SPX.  Most importantly was the day that the Russell index had where it played catch up yesterday after lagging the SPX rally. Still not where it needs to be when comparing it to the Nasdaq or SPX.  VIX is sitting on key support  –

Technical Outlook: SPX managed to avoid the reversal on Friday by closing above 2120 – they key breakout level for this market.  Volume on SPY was rather weak on Friday, but considering price action’s tight range, it is no surprise.  Resistance overhead doesn’t come about until the 2160-70’s price range for SPX.  It is

Technical Outlook: SPX broke 2120 yesterday and closed at new all-time highs – a monumental break for SPX considering how many times it closed just below this resistance level and sold off there after Volume was in line with what we saw on SPY the day before but still slightly below average.  VIX

Technical Outlook: Another day, yesterday, where the market couldn’t hold the gap and simply gave back the gains to close at break-even on the day.  SPX is inching closer towards a breakdown but with the pre-market strength today, that will take a back seat to whether the gap up will hold or will see a

Technical Outlook: SPX dropped below yesterday’s 50-day moving average before quickly bouncing and recovering most of the day’s losses.  As a result, SPX is sandwiched between the converged 5,10, and 20 day moving averages.  SPY saw an uptick in the volume yesterday and was above average.  A look at the SPY weekly chart

Technical Outlook: SPX had a prime opportunity to push price past 2120 today but failed to do so, instead experienced a mild pullback.  This morning SPY is looking at a significant gap down that will eliminate much of the gains from last Friday.  The biggest development was the fact that SPY found its way

Technical Outlook: SPX experienced a significant rally off of the employment number on Friday.  On the SPY there is a significant gap between Thursday and Friday that remains unfilled.  2120 is the number to watch today on SPX – a break and close above this number would represent a significant change for the market

Technical Outlook: Employment number this morning looks to provide the market with a very strong gap up this morning and a possible push again towards all-time highs.  Yesterday’s weak bounce of the previous day’s selling, was much less than what we had seen in previous bounces – namely, the ones from 4/17 and 4/30.