• SP 500 Market Analysis 3-31-15

Technical Outlook:

  • Massive rally yesterday where SPX walked away from the edge of the cliff and recaptured the previously broken trend-line.
  • Managed to recapture all the moving averages including: the 5, 10, 20, and 50-day moving averages.
  • Weakness and profit-taking ahead of the market open could signal more back-and-forth in SPX.
  • Surprisingly, VIX was only down 3.7% yesterday to close at 14.51.
  • Very light volume on SPY yesterday, even lighter than the consolidation we saw on Friday.
  • T2108 (% of stocks trading above the 40-day moving average jumped 21%  yesterday to 54%.
  • SPX 30 minute chart is very choppy but still manages to show a double top in play.
  • SPX finished higher for the second consecutive day. Something that hasn’t been seen in over a month.
  • Potential double top on the daily chart of SPX that confirms on a drop below 2040. 
  • Plenty of uncertainty remains 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:

Chart for SPX:

SP 500 Market Analysis 3-31-15

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