Daily Trading Plans

Technical Outlook: SPX down in the pre market following some comments out of Bullard that was perceived as being hawkish, and of course bearish for the market and stocks.  The 200-day moving average is the key level to watch here today. The 20-day moving average will be broken immediately at the market open. I am

Technical Outlook: SPX managed to put a stop to the four-day sell-off yesterday and rally off of the 20-day and 200-day moving averages a slight bit.  SPY volume dropped off again and was well below average.  The price action of the last five trading days, despite four of them finishing lower, does not

Technical Outlook: Significant pullback that saw price on SPX pull back 1% yesterday .  The converged 20 and 200-day moving averages will be a key testing point for the bulls today should the sell-off continue for a fifth straight day.  Volume on SPY increased for a second straight day yesterday and came in

Technical Outlook: SPX  had its first 3-day pullback since September and the first of this rally.  Unlike previous sell-offs the 10-day moving average did break intraday. But like the October rally has done, it managed to close above it by the end of day.  Volume saw a noticeable uptick on Friday, due mainly to

Technical Outlook: Second straight day of consolidation that saw price pullback to the 10-day moving average and hold, and close just above the 5-day moving average.  This is a pattern that I have seen unfold consistently over the past five weeks that ultimately results in another push higher. It remains to be seen with today's

Technical Outlook: SPX pulled back for the first time on the week yesterday. Recent sell-offs have come in increments of two.  Once again, Janet Yellen showed just how incompetent she is as head of the Federal Reserve. Spoke about raising rates in December as well as negative interest rates – all in the same breath. 

Technical Outlook: Another respectable day for the market yesterday as the Russell continues to play catch up with the broader market rally.  Steep decline off of the September lows, continues to hold. Though at some point in the near future, I expect this trend line, at the very least, to flatten out some and decrease

Technical Outlook: The melt up in the indices across the board continued yesterday, with the small caps surging and leading the way finally.  Monday kicked off an attempted sixth straight week of gains for the market. A feat impressive in and of itself.  The five day moving average continues to hold strong over the last

Technical Outlook: SPX closed on Friday right at the 5-day moving average.  ES futures have rebounded nicely on ECB dovishness and favorable overseas economics reports.  SPX traded in a parabolic manner during the month of October, very similar to the rebound that we saw in October 2011. It wouldn’t be surprising at all to see

Technical Outlook: SPX retraced a shade yesterday to close right underneath the recent rally highs.  October has been on fire this month – as November approaches it wouldn’t at all be surprising for the next month to consolidate some or see profit taking.  SPX has yet to flatten its trend-line at all off of the