Daily Trading Plans

Technical Outlook: Extremely dull price action that only saw a trading range between 2048 and 2055 and when it finally started to move at the close yesterday, did nothing but close at the lower end of the range at 2048.  Price action in the pre-market looks to take price to the upper end of the

Technical Outlook: S&P 500 followed through on Thursdays afternoon rally with a respectable rally on Friday.  The rally started off strong, but throughout the day, put in a series of lower-highs on the 5-minute chart and never built on the early morning gains.  SPX still trading below the 50-day moving average, and not trading

Technical Outlook: Heavy sell-off yesterday that saw yet another massive afternoon bounce recovering two-thirds of the losses before the close.  This was a major failure for the bears. Yet it is what’s been seen by this market time and time again over the last seven years.  SPX failed to break 2039 and hold it into

Technical Outlook: Wild trading session yesterday, that saw price fluctuated between +13 and -13 on SPX, only to close at break even for the day.  Volatility was created by the FOMC minutes that were released and the notable hawkish stance it took in raising rates – possibly as soon as June.  Head and shoulders was

Technical Outlook: SPX reversed all of its gains from the day prior and furthering the chop that has plagued the market over the past two months.  As a result of yesterday’s sell-off, SPX lost the converged 5, 10, and 50-day moving averages.  Most important for the bears today is whether the head and shoulders

Technical Outlook: Strong rally yesterday changed the look and feel of the sell-off that we have seen over the last three weeks.  One day rally essentially wiped out the previous two weeks of selling.  Just goes to show you how shallow this current sell-off is. Typical 3-week sell-offs see on average -6.3% loss. This current

Technical Outlook: On Friday, SPX dropped nearly 1%. But more importantly managed to close below the 50-day moving average, despite bouncing off of it the previous two times.  More importantly is the massive head and shoulders pattern that has been forming over the past two months on SPX. A move today and close below 2039

Technical Outlook: SPX gave up all of its morning gains and dropped further into the red throughout the morning. But, you guessed it, the bulls rallied the market hard in the afternoon to close the market at break even.  For the purposes of staging entries into new positions in either direction, it becomes fairly

Technical Outlook: Major reversal to the downside following Tuesday’s rally. But now today, SPX looking at gapping higher and challenging Tuesday’s highs once again.  Back in play is the head and shoulders pattern, particularly if today’s strength and gap up cannot hold.  Just a reminder, the market has not played well with gaps of late.

Technical Outlook: Massive rally yesterday – the largest one since March 11th.  SPX reclaimed the middle band (20-day moving average). Also recaptured the 10-day moving average.  Despite a hard rally yesterday, the sell-off was still below recent averages.  SPX, since bouncing off of the lows Friday (and off of the 50-day moving average) price