Technical Analysis: For the past eleven trading sessions, the S&P 500 (SPX) has traded in a sideways trading range. This isn’t unusual for this time of the year as the volume dries up and the big players on Wall Street head to the Hamptons and neglect the market. Tomorrow will formally start [...]
I can’t go to sleep – I just can’t. I mean c’mon, how often do you get to see SPX futures down 100 points, circuit breakers triggering, Dow futures down over 600 points, among other things. I don’t have any positions going into tomorrow. I sold my one long position [...]
Technical Outlook: A horrible jobs report, the worst since September 2010, led to a hard sell-off initially for stocks, but keeping with tradition, saw about 70% of the day’s losses recovered by the close. Despite news that would suggest an economic slowdown is underway, stocks simply cannot pullback and hold [...]
S&P 500 as of yesterday, formed a very nicely constructed and perfectly parallel price channel with the slightest of declines. In light of this new development on SPX, it is no wonder that the market is bouncing hard today. […]
Of course there should be about 15 more dead cat bounce attempts between now and the close, but I have to say, I am pleasantly surprised that the bears have the price action down below 2039. That is where it should be, but my expectations were diminishing rapidly over the [...]
