Daily Trading Plans

Technical Outlook: SPX is faltering as it struggles to break through and close above the highs of 9/17 of 2020.  3-day range on the 30-minute SPX chart was broken yesterday on a move below 2006.  Yesterday represented the biggest sell-off since the entire rally started on 9/29.  Yesterday was a minor sell-off and doesn’t mean

Technical Outlook: SPX managed to rally for the ninth time in the last ten trading sessions.  The 5-day moving average continues to trail the current price action and now provides a clear indicator for determining price action going forward.  Volume on SPY was one of the lowest on record for the year namely because

Technical Outlook: SPX continues to rally strong here with a confirmed double bottom at 1997.  The 5-day moving average is showing a lot of support as it rides the underside of daily price action.  The next challenge for traders will be to see whether support in the 2040’s can be broken or whether it re-ignites

Technical Outlook: Choppy trading session yesterday that saw price give up all of its gains early on before finally rallying in the afternoon.  SPY and SPX were unable to break and close above the 50-day moving averages. This resistance level is in conjunction with price level resistance that confirms the double bottom at

Technical Outlook: Yesterday marked a light volume pullback just below the double bottom confirmation level on SPX.  Volume on SPY yesterday was incredibly weak, lower than the day before and much well below the current average.  Futures are looking at a gap up this morning and potentially pushing through the heavy resistance at 1997

Technical Outlook: SPX rally has now spanned 116 points off of the 9/29 lows and 106 points off of the 9/28 closing lows.  Shorts have been forced to cover their positions in a very aggressive manner of late, fueling much of the rally seen of late.  The downtrend off of the 8/18 highs was broken

Technical Outlook: SPX on Friday sold off hard at the open, but traders managed to buy the dip and turn -1.5% loss into a +1.4% gain.  The reversal on Friday, was one of the biggest reversals seen out of the market going all the way back to 2011.  If SPX finishes higher today, it would

Technical Outlook: Dip buyers stage a nice 23 point rally off of the lows yesterday to finish the day slightly in the green.  Employment number will play a significant role in the direction the market takes today. The report represented a significant miss and an immediate sell-off thereafter.   SPY volume fell off some

Technical Outlook: Fairly quiet day for the market yesterday as it managed to close with a non-gap, doji candle. SPX failed to hold the early gains and an attempt to drive the market lower was quickly bought up at the end.  Considering how much the market has sold of over the past two weeks, the

Technical Outlook: A very strong gap up on Friday, held its gains and even pushed higher into the afternoon, until the final two hours which saw a sudden and dramatic reversal that put SPY into the red to close the day.  There is more factors to consider now in the market besides, Yellen & interest