Daily Trading Plans

Technical Outlook: SPX tested, broke, recovered and bounced ultimately bounced hard off of the 200-day moving averages.  It has been noted t hat this was the one-day reversal in the S&P 500 since October 2011.  This reversal seen yesterday was very similar to that of the October lows that were put in and then again

Technical Outlook: Despite the "No" vote by the Greeks, the market managed to erase most of the losses on the day.  Overnight futures rallied hard, but has give back a majority of those gains as we head towards the open.  200-day moving average on SPY has been very, very strong - holding all three times

Technical Outlook: SPX had day 2 of its bounce, and failed to add to its gains from the opening bell for a second straight day. Use the SPY chart as a reference.  Volume on SPY was strong yesterday but has tapered off for a second straight day.  SPX looking at a muted open today after

Technical Outlook: SPX looking at a significant bounce higher this morning as futures are rallying on Tsipras’ willing to concede on most disputed points. Germany, ECB showing some resistance early on but that is not affecting futures.  Similar rally in the pre-market yesterday but not on the same kind of news, and eventually saw most

Technical Outlook: Yesterday marked the worst day of trading in the market for the S&P 500 in 2015.  On the 30 minute chart, every candle resulted in a red body. A true rarity. Nearing a test on the 200-day moving average for SPX.  Volume was one of the strongest readings of the year for

Technical Outlook: Impressive follow through to the downside following Wednesday’s sell-off.  SPX managed to break through the 10, 50, and most importantly the 20-day moving averages.  Greece headlines still dominating the news right now, and rumors continuously spike the futures on every rumor that might be considered remotely positive.  The head and shoulders pattern

Technical Outlook: Trending day yesterday as SPX takes out Friday’s lows and wipes out the week’s gains.  The head and shoulders pattern that I spoke of last week is now back on the table. A push below 2072 would confirm the pattern. Additional selling today will put the 10, 20, and 50-day moving

Technical Outlook: SPX struggled yesterday to make additional gains, and now having risen 5 out of the last 6 trading sessions.  There is a consistent zig-zag price action over the past 5 months that puts at risk the current price action that is on the verge of making new all-time highs.  Also, the head

Technical Outlook: Strong gap up yesterday but no price movement thereafter for SPX as it managed to close just above key resistance at the 2120-2 range.  VIX should be a worry for bulls here, because it has consistently bounced with authority at its current closing price from yesterday of 12.74.  It remains a

Technical Outlook: SPX spent the entire session on Friday in a slow and steady sell-off.  Despite any concrete Greece deals in place, or the possibility of one, overseas markets are seeing some of its best gains of the year, while SPX is looking at a gap up towards the 2120 resistance level.  With recent