Daily Trading Plans

Technical Outlook: SPX managed to bounce once again off of the 5-day moving average for a fifth straight day.  The theme in the market of late is not how much it is going up each day but how much it manages to recover off of the lows of the day.  SPY volume marked the

Technical Outlook: SPX rallied on Friday for a third straight day following the FOMC Statement.  The downtrend off of the November highs has been tested but not broken. A minor rally today would lead to a break of that downtrend.  Russell broke out of its bull flag pattern after lagging the market early

Technical Outlook: Strong follow through yesterday with increased volume, higher than the previous day’s breakout.  SPX actually traded temporarily in positive territory for the year yesterday.  The Dow Jones Industrial has risen 11 out of the last 13 days. Its ETF (DIA) is up 11 out of the last 12 days and up

Technical Outlook: Extremely dovish and extremely unexpected FOMC Statement yesterday that cut the yearly outlook of 4 additional rate hikes down to 2 additional rate hikes.  As a result, Yellen, by cutting the number of rates for the year, essentially gave the market the equivalent of two rate cuts yesterday.  Be careful today, because a

Technical Outlook: Dip buyers remained in control yesterday and rallied the market after the morning sell-off, to hit new intraday highs on the current rally.  Though the rally is still steep, it is starting to flatten out some.  A lot of resistance exists between 2020 and 2040 going forward and will pose difficulties for the

Technical Outlook: Big day for the market on Friday, breaking through the 200-day moving average and the declining trend-line off of the December highs.  Volume was still below average and below the levels seen on Thursday for SPY.  This week is the FOMC Meeting that comes out at 2pm on Wednesday, which will no doubt

Technical Outlook: Despite a slight pullback over the past four days, SPX has managed to put in somewhat of a bull flag pattern on the daily. Today i t is looking to gap out of it and out to new highs on the current uptrend.  Yesterday was an extremely volatile session following the ECB

Technical Outlook: Pre-market strength following dovish actions taken by Draghi and the ECB has the market looking to breakout of the 30 minute bull flag pattern on SPX.  SPX looking to get back above the 2000 price level.  Declining resistance at 2020 off of the December highs and a test of the 200-day moving

Technical Outlook: SPX saw its first significant sell-off in excess of 1% since 2/23.  The downtrend off of the 2/11 lows was broken yesterday and lost the 5-day moving average.  This sets up for another test of the 10-day moving average. Previous tests of this MA has resulted in the resting point for sellers and

Technical Outlook: SPX rose for the fifth straight day, being saved in the last 5 minutes of trading with a nice pop.  The 5-day moving average continues to hold strong since last Tuesday’s mega-rally.  SPY rallied straight into resistance yesterday at $200’s but didn’t break higher. Volume was low and back to the levels