• SP 500 Market Analysis 6-25-15

Technical Outlook:

  • Trending day yesterday as SPX takes out Friday’s lows and wipes out the week’s gains. 
  • The head and shoulders pattern that I spoke of last week is now back on the table. A push below 2072 would confirm the pattern.
  • Additional selling today will put the 10, 20, and 50-day moving averages all in jeopardy. 
  • Yesterday’s 5-day moving average was broken with little effort. 
  • Volume was below average, but much stronger than what we saw the previous two trading sessions. 
  • VIX bounced hard off of key support in the lower 12’s and rallied 8.9% to 13.26. 
  • T2108 saw a nasty sell-off as well dropping 9.4% to 45%. 
  • Bulls need to focus on getting back above Monday’s highs and ultimately all-time highs. 
  • As stated before 2072 is key for Bears to resume the downtrend. 
  • Very little support on 30 minute chart of SPX – could easily free fall into the 2090’s before bouncing. 
  • 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 6-25-15

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