Daily Trading Plans

Technical Outlook: Sharp reaction to another test yesterday of the all-time highs that saw SPX sell-off and dip below the 5-day moving average.  Earnings, yesterday, mainly IBM and UTX dragged the entire market lower, impacting the Dow the most.  Today, we are looking at a much more significant gap-down on the Nasdaq due

Technical Outlook: SPX finally broke above the descending trend-line off of the May highs, and in the process created a higher-high in the market for the first time, since those May highs were established.  Last two days have seen some skittishness from investors as market sits just below all-time highs.  5-day moving average has offered

Technical Outlook: SPX closed Friday with a nice doji candle right on resistance of the declining trend-line off of the May highs.  Overall the market was very mixed, with the Nasdaq soaring, Dow selling off, and SPX relatively flat.  SPX is concerning me at current levels as the VIX is right at key

Technical Outlook: SPX has been on a strong run over the past 6 days, finishing higher during five of them.  The ultimate key for SPX is whether it can establish new all-time highs. This could lead to further, rapid price expansion.  The market is no doubt overheated from the current move, but that doesn’t mean

Technical Outlook: After four straight days higher, SPX had its first down day in the form of a doji candle. A non-threatening.  SPX managed to hold the 50-day moving average and now looking at strong gap up that will take price, at the open, to the 2120 resistance area where many rallies have died

Technical Outlook: Market continued Day 3 (technically Day 4) of the dead cat bounce and not showing signs of relenting this point.  Yellen is testifying before congress, Greek Parliament is voting on the deal, and Beige Book due out later today – a busy news day.  VIX dropped another 3.8% yesterday to close

Technical Outlook: Another solid day of follow through on the dead-cat bounce.  Nearing major resistance on SPX. At 2120, you have a significant resistance where many rallies throughout the course of 2015 have come and died at.  At 2125 you have the peak of the right shoulder. If this breaks, the head and

Technical Outlook: SPX started the dead cat bounce on Friday, after a failed attempt the day before.  Dead cat bounces can last far longer than one might expect. Today the market is attempting to rally higher off of news of a deal on Greece being reached.  However, the deal must be pushed through its

Technical Outlook: Yesterday’s gap up was gradually faded throughout the entire day to close at its lows of the day.  Today we are seeing similar price action heading into the open with SPX sporting an even bigger gap up on positive vibes from the Greek proposal being considered by the EU.  By the close

Technical Outlook: Huge sell-off yesterday finally resulting in a break of the 200-day moving average. The first time this has happened since last October’s sell-off.  SPX sell-off yesterday put the index in negative territory for the year.  Today a strong bounce is brewing. It is important for the bulls that the rally exceeds yesterday’s highs