• SP 500 Market Analysis 1-16-15

Pre-market update:

  • Asian markets traded 1.1% lower.
  • European markets are trading 0.2% higher.
  • US futures are trading 0.3% lower ahead of the market open. 


Economic reports due out (all times are eastern): Consumer Price Index (8:30), Industrial Production (9:15), Consumer Sentiment (9:55)

Technical Outlook (SPX):

  • SPX continued its sell-off for a fifth straight day – second such occurrence this year alone. 
  • So far, SPX has been down 8 out of 10 trading sessions – an impressive feat for the market. 
  • The extent of the past days of selling has been much more controlled then in times past, but nonetheless, every rip higher in price action gets continuously sold. 
  • VIX rose another 4.2% to 22.39. 
  • Lots of support on the SPX 30 minute chart at 1992. 
  • You have to be careful with this market at this juncture, as there is a strong chance we see a bounce occur. 
  • To say the least, there are a lot of macro events occurring right now and the moves are playing havoc on the market’s direction. 
  • 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 1-16-15

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