• SP 500 Market Analysis 4-27-15

Technical Outlook:

  • SPX broke out to new closing highs on Friday. However the move wasn’t strong among individual equities, as the market was pulled higher mainly by MSFT, GOOG and AMZN earnings reports. 
  • Nonetheless, there is very little in the way of resistance for the market heading forward until it reaches the 2150’s. 
  • SPY volume was extremely weak on Friday – in fact the weakest we have seen in months. 
  • Apple earnings today after the bell. Will have a huge influence on the market tomorrow. 
  • 30 min chart of SPX shows a respectable breakout in place. 
  • VIX dropped 1.5% down to 12.29. 
  • T2108 (% of stocks trading above the 40-day moving average) still is range bound and finished lower on Friday as the market closed at new highs. 
  • Price pattern on SPY over the last three months is a bit of a inverse head and shoulders pattern. 
  • 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:

  • Closed out AAPL yesterday at 129.95 for a 2.5% gain. 
  • Closed out ETN yesterday at 66.93 for a 0.5% loss. 
  • Closed out RRD yesterday at 19.33 for a 2.2% loss. 
  • Did not add any new positions yesterday. 
  • 20% long / 80% 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 CRM at 67.92
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 4-27-15

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