Daily Trading Plans

Technical Outlook: First legitimate sell-off on SPX yesterday since April 7th.  SPX finished the day trading below the 5-day moving average.  Watch the rising trend-line off of the February 11th lows. Currently the trend-line sits at 2087.  A slew of earnings came out last night and this morning resulting in hard sell-offs in

Technical Outlook: SPX steadily increased in value all day yesterday, with hardly a sign of selling until the final hour of trading when it gave up nearly all of its gains on the day.  This creates a very concerning doji candle on the SPY right at the upper Bollinger Band extreme.  It is very

Technical Outlook: Doji candle pattern yesterday, with today creating the potential for an evening star pattern should the market sell-off.  With that said, there has been an impeccable resilience to price action of late, where every gap down or sign of weakness is immediately bought up by market participants. VIX is at a key

Technical Outlook: After a five minute, seven point dip yesterday, the market ended up rallying 21 points off of the lows of the day.  The dip buyers remain in full control of this market. However, key resistance looms overhead and could be, with all the diverging signals, a selling point for the bears to be

Technical Outlook: Two straight days of consolidation at the rally highs.  Weakness this morning across the board in the indices as a result of a failure for oil producing countries to agree upon a freeze in production.  As a result, USO is looking at a potential double top in the short-term as it starts to

Technical Outlook: Three day rally this week continues to maintain a strong course higher that will likely test 2100 either today or next week.  Since the initial break, volume has dropped each of the last two days and was dramatically weaker yesterday and well below recent averages.  Personally, I wouldn’t be surprised to see the

Technical Outlook: Strong open yesterday that was erased gradually as the day wore on resulting in a lower close.  SPX dropped below the 20-day moving average again.  Declining trend-line off of last July's highs remains a continuous level of support for the market. Possibility that the price action over the last two weeks has formed

Technical Outlook: SPX gave up all of its intraday gains yesterday after a strong gap up.  Nonetheless, it managed to close slightly higher an in the process hold on to its 20-day moving average.  An interesting development on the daily chart of SPX is the downside cross of the 5-day and 10-day moving averages. 

Technical Outlook: SPX had a heavy sell-off yesterday and took price action below the 20-day moving average (just barely) at the close for the first time since the market rally started on February twelfth.  SPY this morning is looking at a significant gap up to reverse yesterday’s losses, adding to the narrative of an

Technical Outlook: SPX was breaking below last week’s lows until the petroleum report came out and provided a massive boost to stocks, rallying 23 points off of their lows.  In doing so, SPX quickly reclaimed its 5-day and 10-day moving averages.  SPY looking at a gap down this morning, and with it, the