• SP 500 Market Analysis 4-10-15

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 chart confirms a double bottom going back two weeks. 
  • Volume overall yesterday was weak. 
  • VIX dropped a resounding 6.4% down to 13.09. 
  • T2108 was actually down yesterday to 58% – a drop of 3.5%. 
  • It still amazes me that for all of the volatility that we have seen so far this year, that VIX is below 14. 
  • The convergence of the 5, 10, 20, and 50-day moving averages is a perfect example of how non-directional this market has been over the course of this year. 
  • 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:

  • Did not add any new positions yesterday. 
  • Did not close out any positions yesterday. 
  • 40% long / 60% cash. 
  • I’ll consider adding 1-2 new long positions today dependent on the strength of today’s price action. 
  • Remain long: UPRO at 132.12, AAPL at 126.81, ETN at 68.88, FB at 83.32.
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 4-10-15

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