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 [...]
Technical Analysis: Despite Oil (/CL) experiencing its biggest rally since March (+9%), the S&P 500 (SPX) sold off in the afternoon and into the close to finish in negative territory. Even with banks and oil companies soaring, it wasn’t enough to lift the market higher. Volume on SPDRs S&P 500 (SPY) had a strong [...]
Technical Outlook: A significant technical breakdown played out yesterday on the S&P 500 (SPX) with price breaking down and below major long-term support at 2120. Bear flag was also confirmed by yesterday’s price move. Volume saw a notable uptick yesterday as well on SPDRs S&P 500 Trust (SPY) with volume well above recent averages. [...]
