Daily Trading Plans

Technical Outlook: Another sell-off that represented rare follow through on the previous day’s selling.  However, there was a strong surge of buying at the close that wiped out more than 1/2 of the day’s losses.  That sets up the market up for a possible bounce/squeeze today.  Ideally, the bears need to keep price action from

Technical Outlook: Strong sell off yesterday puts this market at the edge of pearl going into today. Yet again after a sell-off we are looking at another gap up for the market today. Previous hard sell-offs saw immediate rallies the following day.  SPX once again broke below the rising trend-line off of the October lows. 

Technical Outlook: SPX surged higher at the open yesterday during the first 30 minutes of trading but then spent the remainder simply giving back 1/2 the day’s gains.  A move below 2110 as SPX is poised to do at the open which would break yesterday’s lows.  Ultimately, for the bears, SPX needs to push below

Technical Outlook: The all-too-common snap back rally after a heavy sell-off the day before, is becoming far too common in the current market.  Bears simply are becoming inept at sustaining any kind of selling momentum from a day-to-day basis.  As a result, bulls are back within reaching distance of new all-time highs.  5, 10, 20,

Technical Outlook: Heavy sell-off yesterday that saw SPX drop over 1% by day’s end.  Trend-line off of last year’s October lows was broken yesterday.  Volume was very strong yesterday on SPY.  SPY trend-line off of the February lows held up perfectly.  As a result, the market is showing signs of bouncing in the early

Technical Outlook: FOMC Statement came out yesterday and was more dovish than the previous statement, however, the market failed to rally behind it.  Today’s open threatens the current uptrend that is in place. A move below 2089 would be very problematic today.  Russell index closed slightly below the rising trend-line off of the October lows. 

Technical Outlook: Following the GDP report, SPX is looking at a gap down to begin the day.  Bulls need, in the near-term hold the lows of yesterday at 2094 with 2089 representing a break of the rising trend-line off of the October lows.  SPX has finished higher 4 out of the last 5 days

Technical Outlook: Disappointing day technically for the bulls as SPX pulled back to the descending support level it worked for 1.5 months to break.  Price closed right on the 5-day moving average.  Major support off of the Octobers lows at 2088 if price pulls back significantly today.  Apple had a very strong earnings report and

Technical Outlook: SPX broke out to new closing highs on Friday. However the move wasn’t strong among individual equities, as the market was pulled higher mainly by MSFT, GOOG and AMZN earnings reports.  Nonetheless, there is very little in the way of resistance for the market heading forward until it reaches the

Technical Outlook: SPX broke above key resistance yesterday at 2111 and in the process established new all-time intraday highs.  However, a wave a profit taking in the last 45 minutes of trading saw more than 1/2 of the day’s profits get wiped out. Nonetheless, yesterday marked a big move for SPX and finally getting out