• SP 500 Market Analysis 3-27-15

Technical Outlook (SPX):

  • A light sell-off  yesterday that still saw a strong big of volume overall. 
  • All the overnight gains have been quickly wiped out prior to today’s open. 
  • Key support today exists at 2040. If this breaks a double top confirms on the daily and also on the 30 minute chart. 
  • So far 2040 has held when tested. 
  • VIX rose 2.3% yesterday to 15.80. 
  • SPX has been down 4 out of the last 5 weeks, yet surprisingly VIX is still below 16!
  • T2108 indicates that the selling may just now be getting started in this market as 44% of stocks still remain above their 40-day moving average. 
  • It has been over 20 years since we have not seen two straight days where the market finished higher. 
  • 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 3-27-15

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