Daily Trading Plans

Technical Outlook: Very intriguing trading session on Friday where the dip-buyers came in just at the nick-of-time to preserve the ever-so-slightly bullish dispositions of the charts.  The 200-day moving average, despite breaking intraday rallied to close above the MA at the end of day.  The trend-line off of the July lows managed to hold by

Technical Outlook: SPX gave back much of its gains from the day yesterday providing a weak showing against what could have been a very strong day for the market.  This is starting to become a regular phenomenon where the market is off to a nice start, the bears come in during the east coast lunch

Technical Outlook: SPX dropped for a third straight day yesterday on Fed talk of rate hike at September’s meeting.  SPX pushed below the converging moving averages below the 5, 10, 20 and 50-day.  A gap up this morning to take place. It will be essential that the lows of the first hour of

Technical Outlook: Another day of weakness in the market which has been the main theme of this market for the past two weeks.  Despite 7 of the last 10 trading sessions finishing lower, the opportunity to profit from this market to he short side is very limited. The moves are very haphazard and lacks a

Technical Outlook: After a 3-day bounce, the market pulled back on Friday and formed a bearish engulfing candle pattern over the last two days.  It is essential here that the bulls continue the pattern to new all-time highs. By failing to make new all-time highs, the market will create a lower-high and a higher-low, adding

Technical Outlook: SPX opened up weak  yesterday, but the dip buyers were quick to capture control of the market and allowed the indices to all finish in the green.  The dip-buying from yesterday is a strong indicator that the bulls want to push the market higher in the short-term.  Nasdaq is by far the best

Technical Outlook: SPX has a solid day yesterday of follow through on the prior day's bounce action.  FOMC Statement had only a minimal impact on the market yesterday.  Rather unusual for FOMC days, was the average volume reading on all the indices.  Facebook (FB) earnings is having a slight negative impact on the market in

Technical Outlook: Strong bounce out of SPX yesterday after having testing and holding the 200-day moving average the day prior.  SPX managed to reclaim the the 5 and 20-day moving averages.  At this point, I’m concerning myself with only one resistance level overhead and that is the 2129-2134 price level. That appears to be

Technical Outlook: Third straight day of selling that saw price close below the 50-day moving average.  Pullbacks in this market have had a very difficult time lasting longer than 3-4 days over the course of this year. There is a very good chance at this point that we see a bounce out of the market

Technical Outlook: SPX down yesterday in sympathy with the negative earnings reactions in AAPL and MSFT. However, the indices did a respectful job of recovering some of the day’s losses.  Sets up today for the dip buyers and whether they will by this rather light pullback the past three trading sessions after