Daily Trading Plans

Technical Outlook: Tight trading range yesterday that saw price consolidate following the hard bounce off of the prior day’s lows.  Today is all about the Non-Farm Payrolls (NFP) Report. The market’s reaction to this report will likely set the stage for the rest of the day.  Volume on SPY dropped dramatically, going below recent

Technical Outlook: Key support level at 1872 was tested yesterday and resulted in a major bounce of 46 points in the span of about 1 hour. The majority of the gains taking place in under 25 minutes.  Insane price movements every day being created by computer generated trading in a highly volatile market marked

Technical Outlook: Heavy move to the downside yesterday that saw a near 2% move unfold on SPX.  The 5 and 20-day moving averages were crushed yesterday but the 10-day MA held and price saw a slight bounce off of the MA.  Above average volume on the sell-off yesterday, and notable increase from what

Technical Outlook: Whip saw price action yesterday that saw an initial sell-off, followed by the dip buyers coming in and pushing the market higher throughout the afternoon.  Overall the volume was extremely light and well below average levels.  The doji candle that is shown on SPX marks indecision by the market between buyers and

Technical Outlook: Huge move on Friday following the negative interest rate announcement by the Bank of Japan, creating a 46 point move on SPX and a massive short squeeze as a result.  I still consider this bounce at this point to be a dead cat bounce with a ceiling of around 1990-2000. If this

Technical Outlook: Yesterday SPX showed strong potential leading up to the FOMC statement to break out of its four day price range and push and continue its dead cat bounce. But once the FOMC statement came out, SPX saw a 44 point reversal from the highs of the day.  Volume saw a slight

Technical Outlook: SPX bounced back from Monday’s decline creating a 3-day period of choppiness for the market as it is trying to digest recent gains. With futures pointing downward, there is the possibility of continued choppiness today.  FOMC Statement comes out today and will spur on additional volatility. I expect that FOMC will play this

Technical Outlook: It didn’t take long for the bears to jump back on the sell-everything bandwagon and they did so yesterday by wiping out all but 9 points of Friday’s gains. This will no doubt come as a huge disappointment for the bulls to start the week.  This immediately puts the bulls back against the

Technical Outlook: SPX rallied a solid 2% yesterday further the dead cat bounce gains and recapturing the 5 and 10-day moving averages.  Volume on SPY dropped for a second straight day and just a little bit above average. No overly impressive in that regard.  When considering the price action from Friday, it

Technical Outlook: After receiving the third most oversold reading on the stock market in the last 30 years on the T2108 (% of stocks trading above the 40-day moving average), the market is finally showing signs of a strong rally today. Oil is up strong, along with China, Europe and Japan. The key will be