Daily Trading Plans

Technical Outlook: SPX finished higher for a third straight week and the first time it has pulled off such a streak since last November/December.  Interestingly enough SPX closed at 1999.99 on Friday, which came at the chagrin of many holders of weekly call options at 2000.  The tendency of late has been for any

Technical Outlook: Another melt up into the close while lagging throughout the morning.  This has been the trend over the past two days, where the market is unable to garner any traction throughout the trading sessions until the afternoon when the buyers come in during the afternoon and drive the market higher.  Yesterday’s volume was

Technical Outlook: Mild rally but quality follow through after the epic rally on Tuesday.  SPX is headed for a showdown with key price resistance at the 1990 level. A break through of that level likely sends price up to around the 2020 level.  Volume was extremely light on SPY and the lightest since 2/18.

Technical Outlook: Massive breakout above stubborn resistance at the 1947-50 level that resulted in almost the biggest rally of the year.  Such a massive rally on already extreme overbought conditions is unusual. Such a rally usually takes place in an oversold environment following a massive sell-off.  SPX managed to bounce off of the rising trend-line

Technical Outlook: SPX pulled back yesterday hard and into the price range that has plagued the market for all of 2016 so far – between 1810 and 1950.  With it, the price action closed just slightly below the rising trend line off of the 2/11 lows on the 30 minute chart. Some may even

Technical Outlook: Despite the need for some follow through and a push away from the 1947 level that was broken on Thursday, SPX instead took price right back to a shade above the 1947 level and cast some doubt on the current market rally and whether the price break the day prior was actually legitimate

Technical Outlook: Huge day for the bulls and for the market in general yesterday.  SPX broke through the 50-day moving, which it hasn’t done since 12/29.  But of more importance is the fact that SPX closed above key resistance at 1947. Now there is a vacuum of resistance between current price of 1951 and the

Technical Outlook: Massive rally off of the lows yesterday, when a continuation back towards the February lows appeared imminent.  SPX managed to recapture the 5-day moving average and now sets up for a test of 1947 and the 50-day moving average, both of which have converged together.  Yesterday’s morning sell-off tested and held the 10

Technical Outlook: SPX pulled back hard yesterday, and gave up nearly all of the previous day’s rally.  1947, which is also the previous highs has rejected price and sent it lower. Discussion about a retest of 1812-1810 will really pick up steam today, as the market is now stuck between the two price points.  SPX

Technical Outlook: SPY saw a strong gap up yesterday but remained essentially flat the rest of the day, with minimal upward momentum.  Volume on SPY was atrocious, well below average, and nearly as weak as the levels seen last Thursday.  SPX broke the closing highs from 1/29 but finished just a couple of points