Market Analysis

The SharePlanner Reversal Indicator was flashing a bounce signal in the market last week but with today's hard reversal following a gap up today, the SPRI is suddenly showing doubt in the merit of that bounce reading.  There's no mistaking that the market is extremely oversold, and today ushered in fear at levels that hadn't

SPY has erased all of its day’s gains following a surplus in oil/gas inventories this morning – frankly it was already giving up most of its gains well before then. However, the SPY is now trading in negative territory on the day so the question remains whether the bulls can keep the slight bit

Quick and to the point – here is where I see the market going. There are three options and they are ranked by what I believe is most likely versus the least likely of options. 

My Update on the SPY

The SharePlanner Reversal Indicator is still flashing the early stages of a bullish reversal. The only problem with that is, as it currently stands, that price is not conforming to the pattern. However, you can add this indicator to the list of other studies that are starting to show some significant divergences on the daily

I’ve always been fond of the T2108 indicator that Worden Charts provides. Essentially what it is, is an indicator that shows the percentage of stocks trading above their 40-day moving average. To me, it is a great barometer on the overall health of the market and the collective attitude of stocks in general.  I mention

Some quick analysis intraday here on what I am seeing with SPY and what it might mean for the market going forward.  I’m using a one-hour chart and as you can see there is a clear level of support going all the way back to October. And though we violated it  yesterday, SPY managed

Ugly Day! As a trader, I am glad to be sitting this one out with 100% cash. Something extraordinary will have to pull me into this market today. Otherwise, I am expecting to finish out the day 100% cash.  I closed out my seven long positions on Thursday. The market wasn’t behaving in a historically very bullish period

I wasn’t planning on doing another post today, as this is my week to relax and sail into the new year. But the SharePlanner Reversal Indicator calls out to me and therefore I must abide accordingly. Essentially this week, we finally have the long awaited bullish reversal. I’m actually somewhat surprised that it came this

The SharePlanner Reversal Indicator has taken longer than I care to admit on flashing us a reversal signal.  I’d like to say it is a week or two away, but who knows. It is really milking this bearish reversal from back in October/November time period.  So yeah, next week the market could be hit with