Trade Setups

Technical Outlook: Another dull day of price action on the S&P 500 (SPX) where price dropped a meager -0.06%.  The common theme of this market continues to be the fact that SPX refuses to break and close below the 20-day moving average.  5-day moving average crossed below the 10-day moving average yesterday on SPX.  SPDRs S&P 500

The market today is acting more like a penny stock with its intraday machinations than the world’s most liquid market for trading stocks.  It is a total bore of late and much of that has to do with the Federal Reserve and the Bank of Japan refusing to get their hands out of the market

McDonalds (MCD) while I’m a Yuuuuge fan of the 24 hour breakfast menu, I utterly detest the chart of MCD as it currently presents itself.  You have a massive head and shoulders pattern that you will see in the chart below. The chart is absolutely perfect and it is unfolding before our very own

The market is back to its up/down/up/down ways, so there is some uncertainty regarding current direction it wants to take. But there are some clear price levels to watch going forward if you are bearish. For one, you should be watching the 20-day moving average. So far it has held up well and will need to,

Bulls got this market ripping higher again after last week’s non-responsive price action that was deemed dead on arrival. New all-time highs have been established and S&P 500 (SPX) is only a cool 7 points away from 2200.  Lots can happen when SPX hit 2200. There is no doubt plenty of people that have

Another one of those “meh” days from the market. The biggest problem for the market of late hasn’t really been the threat of downside, as it is just getting simple follow through on the prior day’s price action. So a lot of your breakouts in individual stocks are not being sustained and as a result

Technical Outlook: Another snooze fest for S&P 500 (SPX) yesterday as price went absolutely nowhere (closed 0.13% higher).  Of late, any morning price gains ultimately sees an early afternoon sell-off that wipes out those gains and takes the market into the negative, only to see a bounce in the final hour of trading. Converging moving

I guess until the Fed and central banks world-wide decide to stop interfering with the market, the normal ebb and flow of price action will cease to exist. That is why you have the VIX flirting with 10, and any sell-off cannot be sustained for any meaningful length of time. I mean, look at

One of the most hated stocks of the past two years, is finally showing some life. GoPro (GPRO) is finally driving higher, after having spent much of its existence in a perpetual decline.  Couple of things to note in this stock today 1) the break of the 200-day moving average. 2) Breaking through massive resistance

This market knows no bounds. There is a million reasons why this market should be much, much lower, but the central banks don’t want that, and until they take their foot off the gas pedal, I don’t expect much to change. At least not ahead of the US election in November.  The world clearly doesn’t