Daily Trading Plans

Technical Outlook: SPX returns to normal trading after a low volume week.  Over the last six trading sessions, SPX has coiled nicely. I expect at some point for there to be a break to the upside to challenge the rally highs and ultimately SPX’s all-time highs.  On SPY, of the past six trading sessions,

Technical Outlook: After a strong sell-off initially, the dip buyers came back strong and rallied the market back into positive territory. Volume was actually surprisingly stronger than I would have expected yesterday for a Thanksgiving holiday trading. It was higher than Monday and just a shade below average readings.  SPX is at a

Technical Outlook: SPX failed to add to its gains yesterday, and now a retraction is possible today, with futures plunging over news of Turkey shooting down a Russian warplane for crossing over into Turkish airspace.  The year of the headline strikes again – random global events triggering fear in the stock market.  More times

Technical Outlook: Sloppy day for stocks on Friday as it was options expiration and following the initial burst higher at the market’s open, the market remained in a slow sell-off the rest of the day.  Breaking the declining resistance off of the May highs of this year, is of high importance here to the sustainability

Technical Outlook: Very low volume day yesterday on the SPY and SPX traded within an eight point range.  All key support levels were held up yesterday, and the 20-day moving average was tested and held as well.  The key for the bulls moving forward is to push through the declining resistance off of the

Technical Outlook: Another major rally yesterday following the eight day pullback, gives SPX 64 points in gains in the last three days.  SPX has managed to reclaim the 200-day moving average that posed as resistance on Tuesday. Also, it reclaimed the 10 and 20-day moving averages, the latter of which puts SPX in the

Technical Outlook: SPX was off to a good start yesterday, and looked like it may string two consecutive days of gains together until a bomb scare at a stadium in Germany resulted in the market selling off all the day’s gains and then some.  The sell-off happened at the 200-day moving average, and that now

Technical Outlook: Yesterday’s bounce was significant in many ways. First, it came off of the price level where the market broke out of the double bottom base it had been in. That base breakout level held perfectly. Secondly, the bounce coincided with the 38.2% Fibonacci retracement level. Now, today, the market must follow through to the

Technical Outlook: SPX sold off for a third straight day and for the seventh time in the last eight trading sessions.  Current retracement has price back to the double bottom breakout as well as the 38.2% Fibonacci retracement level.  All the major moving averages have been broken with the exception of the 50-day moving

Technical Outlook: SPX had its strongest sell-off since the summer sell-off ended back in late October by dropping 1.4% yesterday.  The 200-day moving average offered little to no support yesterday as price action sliced right through it.  The Fibonacci retracements suggests a pullback to the 38.2% level at 2023 on SPX Head and shoulders pattern