Market Analysis

SPY is putting together a very nice cup and handle pattern on the 5 minute chart.  I came into today with 100% cash on hand. I wasn’t sure if I’d eventually put any of that capital to use today, but once the market started basing a couple of hours into trading, I decided to

Information received since the Federal Open Market Committee met in April indicates that the pace of improvement in the labor market has slowed while growth in economic activity appears to have picked up. Although the unemployment rate has declined, job gains have diminished. Growth in household spending has strengthened. Since the beginning of the year,

The SharePlanner Reversal Indicator on the weekly chart still suggests that there is strength still remaining in this market, but that the strength is starting to fade. Looking at the weekly below you can see how the slope of the SPRI is fading off to the right a bit there by flashing signals that the

This is what I’m watching on the 30 minute chart of SPX. If it holds – that is big. If it doesn’t, I think it starts the next leg down in this market. Right now. I am playing it to hold. 

The Volatility Index (VIX) is having an insane day to the upside. The markets are reflecting it to the downside. But the problem, volatility is that it is right back to where it was a few weeks ago and where it struggled to break through. On a daily basis, it has been nearly impossible for it

Weekly head and shoulders pattern has been talked about for some time, and back in February when the market was at its lows, it spent about 1.2 seconds in total below the neckline of the pattern when it touched 1810.  That time seems like an eternity ago, and now what you have is the possibility

Bit of a snooze fest as the bears are creating some weakness overnight. It’ll be interesting to see whether the trend of late continues where the bulls rally off of the overnight lows.  I’m not expecting a lot of action out of the futures tonight. Just look at the volume levels on the daily chart

We are at the place where rallies go on to die.  The SharePlanner Reversal Indicator has a full-on bullish reversal underway.  And it is in the early stages of the reversal. 

For the sake of all things sacred, have this market do something significant! Something that matters! Because for the past two years this market has been a worthless heap of crap that can't trend in any direction that can be sustained for any significant amount of time.   While I manage to still profit off

After doing pretty much nothing and trending lower over the past month (or at least trying to), the S&P 500 is back to trying to establish a technical break though to the upside by taking out the recent highs from April.  As it stand right now, SPX is sitting on 2111 – the intraday