Daily Trading Plans

Technical Outlook: Yesterday was a pivotal day for SPX, despite some profit taking at the close, SPX managed to break, with authority, the declining trend-line off of the day’s highs.  Also, SPX managed to negate the right shoulder on the head and shoulders pattern that had been forming. For now we have to see if

Technical Outlook: SPX managed to rally a small amount off of the FOMC Statement from yesterday. However, towards the final hour of trading, some profit taking emerged.  Declining resistance off of the May highs held up yesterday upon being tested. Today, resistance is at 2105.  SPY closed by forming a massive doji candle on

Technical Outlook: Decent bounce yesterday off of the rising trend-line from the March lows.  Today is Fed Day, and the FOMC Statement will come out at 2pm followed by a 2:30pm Press Conference. I suspect the market action will be somewhat muted until then.  Volume on SPY yesterday was somewhat below average.  VIX

Technical Outlook: Yesterday wasn’t marked by the fact that the bears push the market lower as much as it was about the fact it could not break 2072 on SPX yet again. Immediately upon testing 2072, the dip buyers came right in and popped the market off the lows and erased over half the day’s

Technical Outlook: Friday’s sell-off helped shape the right shoulder of the head and shoulders pattern that has formed over the last two months.  Still no deal in Greece as they continue to refuse any deal that would increase VAT taxes or cuts to pensions. Another “last attempt” meeting will occur tomorrow after meetings over the

Technical Outlook: SPX is sporting a head and shoulders pattern possibly on the daily chart. The first time I have seen a pattern of any kind in the past three months. See chart below.  The pattern is not confirmed yet, but the right shoulder is currently forming and the pattern as a whole confirms

Technical Outlook: SPX saw a monster bounce that saw price break through key resistance at 2100 and up to 2105.  Declining resistance at 2112, and if price break that, you have 2120's for SPX to contend with.  RUT looks ready to challenge its all-time highs again. after breaking out of 3 weeks of consolidation.  Nasdaq

Technical Outlook: SPX showed signs of wanting to bounce yesterday, but afternoon selling pressures squashed that opportunity, leaving traders with the second doji candle in the past three trading sessions.  VIX dropped 5.3% to close back down inside of the declining trend-line off of the October highs.  A bounce today could easily take

Technical Outlook: Yesterday picked right back up where the previous week ended, with additional selling pressures on the market.  The lack of volume to the down side compared to what I saw the previous two trading sessions, suggests that the market sell-off was more about the lack of buyers than an overwhelming force of sellers

Technical Outlook: Perfecting spinning doji candle put in on Friday, showing and equal balance of buyers and sellers.  SPX has a bounce opportunity today off of the rising short-term support level at 2084-5.   Not much in the way of scheduled news this week, with the highlight coming on Friday with Consumer Sentiment. Though,