Today’s Trading Plan: Do I Hear 9 in a Row

2016-11-04T08:53:50-04:00November 4, 2016|

Technical Outlook: Yes, for an 8th straight day, the S&P 500 (SPX) sold off. The expectation of a bounce is strong here, and quite surprising we haven’t even seen any significant attempts at it yet.  Last time SPX was down 8 straight days was in 2008. The most troubling aspect of this [...]

Bears Praying for a Market Breakdown With This Chart

2016-08-31T14:03:44-04:00August 31, 2016|

Some people haven’t quite shared the same sentiment about the current pattern developing on the S&P 500 (SPX) as me. Granted, it is tough to make out on the daily chart, but I’ve gone ahead and drilled down to the 30 minute chart to show you the head and shoulders [...]

Today’s Trading Plan: Bears Finding a Backbone

2016-08-25T08:18:33-04:00August 25, 2016|

Technical Outlook: Bigger than usual trading range for S&P 500 (SPX) yesterday, and biggest sell-off that the market has seen August 2nd. Would have been the biggest since the Brexit sell-off, but the bulls stepped in during the last 10 minutes and goosed the market off of its lows.  More importantly, [...]

Today’s Trading Plan: Can the Bears Fight Off 2100

2016-07-05T07:32:01-04:00July 5, 2016|

Technical Outlook: SPX rallied a meager 4 points on Friday to close just a shade below 2103, giving up much of its mornings gains throughout the trading session.  Declining resistance off of the June highs are in play and could be broken today.  For the first time during this 4-day [...]

SharePlanner Reversal Indicator: Bears – Come Back

2016-06-29T15:44:31-04:00June 29, 2016|

The SharePlanner Reversal indicator suggests the bulls might not be out of the woods just yet. This week it is flashing an early reversal which really comes as no surprise following the massive sell-off on Friday and then again on Monday after the Brexit vote. Now the market is on [...]

Bulls and Bears Drawing Lines in the Sand

2016-06-17T15:21:31-04:00June 17, 2016|

So far the month of June  has been extremely tricky for traders. Overall it is down and in 13 trading sessions, 7 of them are negative. But at the same time, this market marched right up to within 1% of new all-time highs just a week ago.  But as we [...]

Today’s Trading Plan: Bears Try For Four Days

2016-06-14T08:44:30-04:00June 14, 2016|

Technical Outlook: Day 3 of the sell-off ws equally impressive, faking out the bulls early on only to drop hard in afternoon trading.  20-day moving average was breached.  Volume on SPY was well above average, very impressive, and increased for a fourth straight day.  Most impressive though was the VIX [...]

Today’s Trading Plan: Bears Creeping In

2016-06-10T08:58:48-04:00June 10, 2016|

Technical Outlook: The market continued with the same story that it has been engaged in for the past four months and counting… Buy every dip  you can get your hands on.  SPX sold off early on, but managed to recover nearly 75% of its losses by the close of the [...]

Sacred Pattern for Bears Close to Being Violated

2016-06-09T12:44:50-04:00June 9, 2016|

Weekly head and shoulders pattern has been talked about for some time, and back in February when the market was at its lows, it spent about 1.2 seconds in total below the neckline of the pattern when it touched 1810.  That time seems like an eternity ago, and now what [...]

Bears Are Slaying Price Action

2016-05-19T12:27:53-04:00May 19, 2016|

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 [...]

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