I am not a fan of adding long positions in this current market environment. Especially after yesterday when the bulls gave up all of their gains following what is now a dead-cat bounce. The market looks to me to be setting up for further downside. You have the FOMC Statement [...]
Technical Outlook: Massive bounce yesterday at around the 50-day moving average, and closing a shade below 2100. Again the bears let go of another opportunity to jump start a sell-off. SPY volume dropped off yesterday and was notably below recent averages for the first time in 10 trading sessions. VIX [...]
Let’s just say that the Russell index does not like to put forward a good challenge to the 50-week moving average and this week has been no different. After testing the 50-week moving average last week for the first time since early December of last year, the Russell index tested [...]
