Market Analysis

If you’ve been trading this market for the past 10 days as I have been doing, it has been one of the most boring markets ever without a holiday looming around the corner.  Apparently investors are sneaking off to the Hamptons again for one last summer vacation before shipping their kids off to boarding school. 

With the FOMC behind us, the market can breathe a sigh of relief that there wasn’t a surprise interest rate hike. But really the overall market reaction to the news was more “meh” than anything else.  With that said the Weekly SharePlanner Reversal Indicator is now hovering at extremes. If you get my morning analysis

Information received since the Federal Open Market Committee met in June indicates that the labor market strengthened and that economic activity has been expanding at a moderate rate. Job gains were strong in June following weak growth in May. On balance, payrolls and other labor market indicators point to some increase in labor utilization in

I know a lot of people believe that the current market rally is unsustainable, and at its current trajectory it probably is. But that doesn’t mean it can’t flatten out some through time and put together a more 45-degree-ish kind of rally that can sustain itself into the elections.  Remember, the market has essentially gone

There is a strong level of resistance forming overhead on the Russell (IWM). On the RUT it is at the 1212-13 level and on IWM it needs to push through the $120’s.  On numerous occasions IWM has tested this resistance level and has quickly retracted in price – often times to the tune of

I keep writing about the VIX indicator of late because it is so essential to this market being able to continue its current rally. You have a monster level of support on the VIX at the 13 level and it goes all the way back to this time two years ago.  Right now it

I, of all people want this market to go higher. Having spent the last two trading years of my life in a range that was the tightest of anything seen in  21 years has been exhausting and limiting in its opportunity.  However, there are a few things that need to improve underneath the surface, one

VIX back at critical support. Can it bounce here? For the past two years it has done so religiously and in the process has stalled out any market rally that was underway.  Which is interesting because the current market is rallying to new all-time highs, but remember how the past 15+ months it couldn’t

The SharePlanner Reversal Indicator rarely behaves this way, but following the Brexit vote, this indicator has been all over the map. It seems at this point the indicator needs to ground itself, and the best way to do that is to distance itself from the Brexit shenanigans, and the only way to distance itself is

It is painfully obvious that the S&P 500 hates 2100. You don’t believe me, fine, then explain the chart below to me.  It is the monthly chart of the S&P 500 and it sports one of the most impressive levels of resistance the index has ever seen. It goes all the way back to the