Daily Trading Plans

Technical Outlook: One of the wildest trading sessions of the past year that saw SPX drop nearly 70 points intraday only to rally 47 points off the lows to close 1.1% down.  There is a strong possibility that the market has formed a temporary bottom for now. Perhaps similar to that of what was seen

Technical Outlook: Another major gap down following a day in which SPX managed to finish in the green. Today’s gap down takes us well below the August lows. The key will be whether SPX manages to close at that level or above it.  It is almost comical at this point that the market, since 12/29

Technical Outlook: Another massive sell-off on Friday that sent the market spiraling into correction territory.  Volume in SPY was the highest level seen since the bottom of the August sell-off in 2015. SPY is sitting on the neckline of a massive head and shoulders pattern going back to May of 2014.  SPX will once

Here’s the chart that I think warrants the most consideration today and pretty much sums of the current state of market affairs. Should the bulls hold it, they have a slight heart beat, but if they break below, it probably gets ugly in the months ahead and we are opening right at that level.  Here’s

Technical Outlook: Despite a solid start for the market that lasted all of 10 minutes, the market proceeded to sell off 60 points from the highs of the day, going from 1950, all the way below 1900 to settle at 1890. A dramatic sell-off to say the least.  Oil inventory report really sped up the

Technical Outlook: After erasing all of the morning gains, the market went red before, once again finding some room to rally into the close.  The bears, even at these levels are still trying to aggressively short the market, which will ultimately lead to a massive short squeeze. At this point, getting short makes absolutely no

Technical Outlook: Big rally following a sell-off yesterday of more than one percent that ultimately saw SPX finish slightly in the green and sporting a nice hammer candle, which is often times indicative of a short-term bottom/bounce going forward.  SPY volume was slightly less than what we saw the previous two trading sessions, but

Technical Outlook: Potential bounce opportunity on Friday was entirely squandered and the bears managed to drive price down more than 1% yet again.  Last week marked the worst start to a new year ever and the worst week for stocks in over four years.  If you look at the weekly chart of SPX going back

Technical Outlook: SPX attempted to bounce yesterday off of its lows of the day, and while it finished in positive territory, the breadth of the advance was very unconvincing as was the actual price advance of only 0.2%. As a result, no reason to believe this market is bouncing is currently warranted.  Futures down another

Technical Outlook: Extreme intraday sell-off yesterday saw -54 points to the downside whittled away to -31 points on the day following another 3:30pm eastern ramp job.  Since last Tuesday, and over the course of three trading sessions, the market has moved 90 points from highs to lows.  Most importantly the price support on SPX at