• fed hangover stock market janet yellen swing trade

Technical Outlook:

  • S&P 500 (SPX) continues to trade in an up/down/up/down pattern for the past 10 trading sessions. fed hangover stock market janet yellen swing trade
  • This has only happened eleven other times since the 1920’s. 
  • SPX hit 13 times late last year. 
  • Volume on SPY increased slightly yesterday for a second straight day and almost closed at recent averages. 
  • Oil continues to drop – as it is slightly down again this morning, and broke below the Fibonacci 50% retracement level. The big question becomes as it tracks lower towards the February lows, is when does this start negatively affecting stocks like we saw back in December/January. 
  • SPX is trading in a very tight range for the past 10 trading sessions and unable to break out of its current trading range. Even with the FOMC Statement yesterday, the impact was minimal. 
  • Nasdaq (COMPQ) and Russell (RUT) continue to trend higher and break out of their current ranges while the Dow Jones Industrial Average (DJIA) continues to show signs of rolling over. 
  • SPX trading range continues to come in incredibly choppy. Two price levels to watch that will signify further weakness in the market is 2059 and 2055. 
  • Interestingly enough over the past month you are finally starting to see a bend in the 200-day moving average to the upside. For much of the year it has been flat. 
  • Very bearish candles on the VIX continue to be formed right at the critical 13 price point. 
  • Facebook (FB) came in strong last night on its earnings report but has pulled back some from its initial highs. 
  • At this point, and with the election ahead, I’d expect the market to keep rallying higher. I don’t expect there to be a rate hike between now and the election. To do so would impact the market and thereby the election. I don’t think the Fed wants that, particularly since Trump has indicated that he would replace Yellen. 

My Trades:

  • Sold LOCK at $16.49 yesterday for a 0.9% profit. 
  • I did not add any new swing-trades yesterday. 
  • May add 1-2 new swing-trades to the portfolio today. 
  • Will consider hedging the portfolio as well with a short position. 
  • Currently 40% Long / 60% Cash
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 7-28-16

    You are unauthorized to view this page.

You Might Like

  • The rise of the retail trader in the stock market.

    The Retail Trading Revolution: How Small Investors Are Reshaping the Stock Market

  • fading the gap

    Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day

  • how to trade a bear flag

    How to Trade a Bear Flag