Daily Trading Plans

Technical Outlook: Yesterday marked an extremely boring an inconsequential day of trading In the final hour of trading, SPX gave up all of its gains on the day and finished nearly flat.  The big concern for me on the chart is that there is now a very obvious head and shoulders pattern that is forming

Technical Outlook: Attempted bounce early on yesterday eventually resulted in a sell-off in the afternoon that saw SPX finish lower for the fifth time in the last six trading sessions.  A late day rally attempt yesterday fell apart.  Yesterday marked the first time since 3/24 that SPX sold off three straight days.  Volume on

Technical Outlook: SPX sold off for the fourth time in the last five days and closed yesterday below the lows from last week.  There was almost a test of the 50-day moving average yesterday but the dip buyers stepped in before that could take place.  Again yesterday afternoon we saw the dip buyers come in

Technical Outlook: Another sell-off in SPX yesterday that once again saw the bulls buy the dip at the days lows and drive the price higher, thereby eliminating a good chunk of the day’s losses.  It is hard to say that the bears have full control of this market when the bulls manage to rally the

Technical Outlook: Another day of selling, but half the day’s losses were erased by the dip buyers in the final hour of trading.  This continues to be the norm as the dip buyers aren’t in fear of the current sell conditions that we have seen of late.  SPY volume on Friday was through the

Technical Outlook: SPX had a major sell-off yesterday that saw the index drop back below the 5 and 10-day moving averages. More importantly the 20-day moving average was breached yesterday with close below the MA.  SPX close to trading below the lows from last week. It would be a first for the index in

Technical Outlook: Despite an early sell-off, SPX managed to (surprise) buy the dip and rally the market higher to close out the day.  FOMC Statement was released yesterday and there was no mention of a possible rate hike in June, leading investors to believe that it is not a live meeting, thereby rallying the market. 

Technical Outlook: Another last minute save by SPX to rally price from negative territory to positive in the final 30 minutes.  This is becoming the norm of late to spend the day in a weakened state only to rally in the final minutes.  Massive head and shoulders pattern forming on the SPX 30 minute chart.

Technical Outlook: Another morning sell-off, another afternoon rally.  The bears are not holding on to their shorts for long, and the dip buyers are patiently waiting for the afternoon to roll around before jump starting their long positions.  Yesterday saw a 10 point pop off of the lows of the day, and 5 points in

Technical Outlook: SPX almost had two days of consecutive selling. Instead in managed to rebound in afternoon trading and actually finish in the green.  The last lat time the market saw two consecutive days of selling was on April 5th.  SPX tested the 10-day moving average, held on, and rallied thereafter.  QQQ, for the better