Daily Trading Plans

Technical Outlook: Excellent day yesterday for bulls as it appeared in the early going that price would end up resuming the move down to rising support down, until the dip-buyers came in and pushed it back to its recent highs.  However, 2111 remains a formidable level of resistance and needs to get taken out today. 

Technical Outlook: Yesterday’s rally was a strong response to the sell-off on Friday as it regained every one of the moving averages it lost, including the 5, 10, 20, and 50-day MA.  Follow through today is important for the bulls, because by continuing the rally if makes it as if Friday never happened.  With

Technical Outlook: Extremely hard sell-off on Friday that tested the long-term trend-line off of the October lows and managed a minor bounce to hold support.  That trend-line will be the focus for SPX in the days ahead to see whether bulls use this as a ‘buy-the-dip’ opportunity or not.  SPX closed below Tuesday’s which

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

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

Technical Outlook: SPX had a mild sell-off yesterday, which in terms of range, matched what we have seen during the rally off of the April lows.  However, there is some declining resistance off of the 3/2/15 highs that seems to be causing the bulls some fits, despite trading above it on Friday and temporarily

Technical Outlook: Strong follow through on Friday after the breakout and short-term higher-high was established last Thursday.  Downtrend off of the March highs is where price finds itself right on this morning.  This is strongest/most bullish market that we’ve seen since early February.  Double bottom on the 30 minute chart was confirmed on Friday. 

Technical Outlook: SPX had a technical breakthrough yesterday that can’t be ignored as it broke and closed above 2087.  This creates some direction for us going forward, though breaking all-time highs or at least March highs would be far better.  A higher-high has now been made on the daily SPX chart.  SPX 30 minute

Technical Outlook: Yesterday was setting up for some technical improvements on the daily chart, but an end-of-day sell-off kept the market from capitalizing on the opportunity.  Instead the market remains stuck inside of a rut and showing no propensity to move in either direction.  Nonetheless, all the moving averages remain underneath the price action,

Technical Outlook: A respectable rally yesterday that saw price break above the 5, 10, 20, and 50-day moving averages that have all converged together at one specific price point.  SPX & SPY volume saw a considerable pick up yesterday off of the rally.  The key for the bulls today will be to push