• SP 500 Market Analysis 6-30-15

Technical Outlook:

  • Yesterday marked the worst day of trading in the market for the S&P 500 in 2015. 
  • On the 30 minute chart, every candle resulted in a red body. A true rarity.
  • Nearing a test on the 200-day moving average for SPX. 
  • Volume was one of the strongest readings of the year for SPY. 
  • VIX was up a massive 34.5% to 18.85, marking the highest closing at 2/2. 
  • Dead cat bounces here is not uncommon. The key is that they don’t reclaim major support levels that were previously broken. In this case, 2072 is extremely important for keeping the Head and Shoulders pattern in place. 
  • T2108 (% of stocks trading above the 40-day moving average had it s lowest reading since 10/17/14 after dropping 38.5% down to 26%
  • Watch 2039 for a break below the March lows to fuel the bearishness in the market. 
  • The market doesn’t care about the economy nor earnings. That is not what is driving it. The market cares about what the Fed is doing to keep equities propped up. 


My Trades:

  • Closed out my position in SDS at 21.09 for a 5.6% gain. 
  • Added one short position on yesterday. 
  • 30% short / 70% cash. 
  • Remain short CA at 30.40, MAR at 76.40.
  • Will look to add 1-2 new positions today to the portfolio. 
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 6-30-15

You Might Like

  • South Korea and its impact on the US stock market.

    South Korea: The Hidden Driver of US Tech Volatility

  • Learn to trade within your means.

    Stop Trying to Hit Home Runs: Start Trading Within Your Means

  • Avoiding traps on stock breakout plays.

    How to Trade Breakouts Without Getting Trapped