• SP 500 Market Analysis 3-19-15

Technical Outlook (SPX):

  • SPX held 2065 yesterday despite an intraday dip below, and managed to rally in a significant manner following the FOMC Statement yesterday. 
  • Despite “Patient” being dropped from the statement, the Fed went out of its way to still frame the statement as overly dovish. 
  • SPX regained the 20-day moving average yesterday. 
  • One of the significant attributes of this market has been the large day-to-day swings in equal but opposite directions, yet the market remains very much near break-even on the year. This makes for a difficult trading environment and the ability for swing-trades to hold their profits from one day to the next. 
  • SPX 30 minute chart broke out of a bull flag that was formed yesterday. 
  • On the 30 minute chart, SPX will need to make the morning’s weakness an opportunity to establish a higher-low. 
  • VIX managed to see one of its bigger moves of late, dropping 10.8% down to 13.97. 
  • 18.7% rise yesterday on T2108 (% of stocks trading above 40-day MA) to close at 53.8%. 
  • SPY saw its largest daily volume bar of 2015. 
  • Ideally for the bulls, they need to establish some follow through, because the market of late has had a difficult time establishing a move in either direction without an equal counter-move. 
  • Plenty of uncertainty 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:

  • Sold WFC yesterday at 55.96 for a 0.6% gain. 
  • Sold SCHW yesterda at 30.6 for a 1.3% loss. 
  • Added one new position yesterday. 
  • Will look to add new long positions if the market shows signs of rebounding off of the morning lows. 
  • 20% long. 
  • Remain long JNPR at 23.64
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 3-19-15

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