Trading Block

Trading notes: SPY sell off yesterday was another sharp rejection at a key area of support. Currently there are two levels to be very concerned with the first is resistance formed over the course of more than two weeks, and that is at 696 and is what rejected price yesterday. Just above it you have rising

Trading notes: SPY rides a shallow two-day losing streak coming into today, and while we're looking at a gap higher, declining resistance from the 1/28 highs continues to push back against price on the index. If that level manages to break, then you have 701-2 resistance to keep a close eye on. On a day-to-day

Trading notes: With SPY setting up for an open less than 1% from the overhead resistance that I've been highlighting for months now, I am choosing to play it conservative here and not be overly aggressive with new position adds. We've seen over 9 times now, where price tests or gets close to testing that level

Trading notes: As mentioned on a regular basis, as the market continues to march higher here, we will want to be aware that a little more than 1% away is a major resistance level for SPY that has consistently rejected price going back to November. Now, if that level can break it opens the door to

Trading notes: Essentially over the last four weeks of trading, there have been some significant swings, but ultimately the market remains flat during that time, with a converging 5, 10 and 20-week moving averages, showing a sense of non-direction as the market wanders to find its next move. Friday's big move was quite the statement for

Trading notes: SPY has seen selling in six of the last seven trading sessions as well as in the last three sessions. But with AMZN earnings last night and the subsequent 10% sell-off that ensued, you would have thought it would open the door to further selling in equities today, but so far, the market

Trading notes: Still seeing continued selling across the board with all the index futures, though most of the selling to this point has centered around semis and big-tech. Nonetheless, I want to be careful here about not overexposing my capital too much to the long side while this selling persists. SPY is looking at making

Trading notes: Yesterday saw a strong shift away from the AI trade and into the "everything else" crowd, with deep selling in tech, that led to hard sell-offs in QQQ and SPY. However, IWM managed to finish just higher on the day, which could provide some better opportunities going forward, considering the overcrowded nature of late

Trading notes: SPY is right up against that rising resistance level that has led to pullbacks each of the last five times it was tested. Breaking through the 700 level will be critical, and sustaining that move into the close as well, to breaking that resistance. Gildan Activewear (GIL) has a really nice bull flag

Trading notes: With futures currently set to open at over -1% down, the focus has to shift to capital preservation until the market can find its footing and for better trading conditions to exist. If the selling holds, it will mark the fourth straight day of selling, for the SPY. So far it looks to be