Today’s Trading Plan: Attempting a Push Higher

Technical Outlook (SPX):

• Quadruple witching is today which can add some abnormal price movements in the market.
• Despite yesterday’s sell-off, SPX still managed to hold most of the gains from post-FOMC.
• SPX closed right on the 20-day moving average.
• Unlike a lot of previous sell-offs, yesterday’s was light and the price action failed to cite any panic among traders.
• SPX 30 minute chart shows a dilapidated bull flag pattern. SPX, on this time frame must hold 2061 to keep its uptrend in tact and not form a lower-low.
• VIX rose slightly to 14.07 yesterday.
• One of the significant attributes of this market has been the large day-to-day swings in equal but opposite directions, yet the market remains very much near break-even on the year. This makes for a difficult trading environment and the ability for swing-trades to hold their profits from one day to the next. 
• Plenty of uncertainty in the market short-term. Euro and oil are major players in the market’s direction currently.
• 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:

• Added two new long positions yesterday.
  
• Sold JNPR yesterday at 23.76 for a 0.5% gain.
• Sold ATVI at 23.11 for a 1.5% loss.
• Will look to add 1-2 new positions this morning.
  
• 20% long. 
• Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX: