Daily Trading Plans

Technical Outlook: Heavy sell-off early on was brought back to near break even by the close of business forming a large hammer candle on SPX.  Very similar price action to what we saw last Thursday when the FOMC Statement came out and the market sold off all of its intraday gains. Except this time it

Technical Outlook: A non-eventful day yesterday as SPX traded slightly lower with incredibly light volume on SPY.  Not quite a doji yesterday, but pretty close darn close, nonetheless, which keeps with the dojis of the previous four days.  Essentially there has not been much price action one equities start trading. All of the price action

Technical Outlook: Bear flag on SPX, Dow Jones Industrial, Russell and Nasdaq all confirmed yesterday, leading me to believe that this market will see a larger dose of downside going forward.  Volume was much larger than what was seen on Monday, but only slightly above average overall.  VIX gave up much of its gains yesterday

Technical Outlook: Extreme low volume bounce yesterday on the SPY that resulted in an open and close at the same exact price (doji candle).  Today’s gap down takes SPX puts price at around the 9/10 lows.  Bear flag pattern is to confirm today at the market open on SPX (see chart below).  VIX

Technical Outlook: SPX pushed lower on Friday despite a rally attempt early on that fell apart.  Volume has been very strong over the past two days – which has been missing over the previous two weeks of trading.  The gap down on SPY Friday saw the opening and closing price nearly identical which means

Technical Outlook: The Fed decided to keep interest rates the same yesterday, however in doing so, Yellen’s extremely dovish commentary on the economy, has now spooked investors into selling the news.  Yesterday’s day’s reversal after a huge surge higher intraday should be extremely concerning for bulls as it formed an extremely bearish, doji reversal candle. 

Technical Outlook: SPX has an unexpected, low-volume rally yesterday that saw SPX rise 25 points (+1.3%) ahead of the FOMC interest rate decision.  Triangle pattern broke out to the upside yesterday. There is still some declining resistance off of the 8/28 highs.  Break 1993, from those 8/28 highs, and SPX will be establishing a new

Technical Outlook: SPX has extremely low volume on a minimal move to the downside. This was due to the Jewish holiday, Rosh Hashanah which ends tonight. So there is a very good chance that we see more low volume action again today.  In fact, volume this low hasn’t been seen since 8/18, the day before

Technical Outlook: Dip buyers came in on Friday and provided some relative strength for the bulls to finish the week out on.  Considering we have had 10 straight weeks of alternating up/down/up/down if this week is to continue that pattern, then we are looking at a finish lower come Friday.  Short-term SPX is stuck

Technical Outlook: Rare day yesterday that saw a huge gap up sell-off and finish almost 30 points lower on SPX.  The entire range of the selling from highs to lows represented a +50 point move.  To close the day, SPX had 7 straight red bars on the 30 minute chart. Considering we are not looking