Daily Trading Plans

Technical Outlook: Biggest sell-off yesterday since March 8th, as price in one swoop dropped below the 5-day and 10-day moving averages.  Two key price levels to watch today – 1) The Friday lows from last week. 2) The lows from March 24th. Particularly, if the latter should break, it would put in a lower-low

Technical Outlook: SPX pulled back yesterday to the 5-day moving average and bounced ever so slightly in the final 30 minutes of trading.  Today the market is looking at a significant sell-off to start the day.  It is important to remind yourself of what happened on Friday when the market sold off and the subsequent

Technical Outlook: The bullish strength of this market since mid-February was on full display Friday when the market gapped down significantly and pushed 16 points lower, bottomed within the first 30 minutes of trading and then rallied 29 points off of those lows throughout the remainder of the day.  To put it mildly, gap downs

Technical Outlook: One of the most volatile quarters ever ended on a quiet note yesterday pulling back ever so slightly.  Today’s morning weakness is looking at a respectable gap down. These gaps downs how been difficult for the bears to do anything with, often times leading to eventual, same-day, market rallies.  Last April had a

Technical Outlook: Gap up yesterday held on but not in an overly convincing manner on the SPY – finishing slightly lower than its opening price.  Volume trailed off from the day prior and is still well below recent averages.  Potential bull flag pattern forming on the SPY 30 minute chart.  Yesterday’s price action

Technical Outlook: SPX had a solid day yesterday following dovish remarks about future rate increases from Janet Yellen.  Her dovish outlook as it pertains to rate hikes has been, in large part, the reason for the massive rally off of the February lows.  Volume yesterday on the SPY was notably higher than recent days,

Technical Outlook: SPX traded flat yesterday on extremely weak volume – the weakest volume day of the year.  SPY volume was only 10% higher than what was seen on Christmas eve.  For the bulls the recent selling isn’t overly concerning as it extremely shallow and light volume.  The 5-day moving average yesterday was tested

Technical Outlook: Thursday marked the third straight day of selling for the S&P 500 (albeit barely), but the day’s results saw a hard bounce off of the morning lows.  Potential higher-low established on Thursday for the current trend off of the 2/11 lows.  Last week marked the first time in six weeks that SPX

Technical Outlook: SPX finally saw a respectable sell-oiff yesterday for the first time in the last 10 trading sessions, and only the second time in the last 16 trading sessions.  More weakness at the open, but if there is one thing that is true with this current market, that the bears struggle when there is

Technical Outlook: If you thought Monday was a boring trading session, yesterday just about had it beat.  Volume was a bit higher, but way below recent averages.  SPX is essential coiling here at recent highs in a manner similar to a bull flag pattern.  Dow Jones Industrial, has hit long-term declining resistance