• SP 500 Market Analysis 4-20-15

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 creates a lower-low on the 30 minute chart. 
  • Volume was through the roof on Friday. 
  • Big miss for the bulls as they were right on the cusp of making a move to new all-time highs. 
  • T2108 (% of stocks trading above their 40-day moving average tanked 18.5% down to 51.3%.
  • VIX spiked up to 13.89 – a move of 10.2%. 
  • 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 positions on Friday. 
  • Closed out UPRO at $136.58 for a 3.4% gain.  
  • Closed out RHT at 73.71 for a 2.7% loss. 
  • Closed out TXT at 44.70 for a 3.1% loss. 
  • 30% long / 70% cash. 
  • I’ll consider adding 1-2 new positions today dependent on the strength of today’s price action. 
  • Remain long: AAPL at 126.81, ETN at 68.88, CBI at 50.63.
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 4-20-15

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