Dow Jones Industrial Average (DIA)

My Trading Journal for the Stock Market Today:  And by force, I actually mean dip buyers. They buy on the dip every single, freakin', time. It is fascinating really. Every-time there is a sell-off, the market immediately responds before the market closes the day. For the bears, they are literally being plagued with Jedi mind tricks

Technical Analysis: The S&P 500 (SPX) took a breather yesterday when it decided to sell-off ever so slightly.  The 5-day, 10-day and 20-day moving averages on SPX are converging and offered an excellent support level for the bulls to bounce off of yesterday. Watch that level of support, again today.  Light Sweet Crude Oil Futures (/CL) still

Technical Analysis: A sell-off yesterday that was hardly a sell-off for the S&P 500 (SPX). Price fell by 0.66 points or 0.03%. Essentially it was a day of sideways price action.  SPX found support right at the 20-day moving average yesterday by forming an indecisive doji candle just above it.  Volume fell off some yesterday

Technical Analysis: The S&P 500 (SPX) jump started the Santa Rally with a hard sell-off yesterday that sent equities reeling nearly 1% and to the lower end of the short-term trading range.  Price broke the 5-day and 10-day moving averages and threatens to test the 20-day moving average today. This is the strongest sell-off seen since the

Technical Analysis: Yesterday marked the twelfth consecutive day in which S&P 500 (SPX) was stuck in a sideways trading range of 29 points.  Today is the beginning of the 5-day trading even traditionally known as the Santa Rally, which encompasses the last three trading sessions of the year and first two trading sessions of the new year. 

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 the Santa Rally, which is

Technical Analysis: The Federal Reserve raised interest rates yesterday by a quarter point. Initially the S&P 500 (SPX) tried to rally on the news but quickly gave up its gains on the day to finish 0.8% down on the day.  SPX also managed to close below its 5-day moving average for the first time since 12/2

Technical Analysis: The S&P 500 (SPX) keeps marching higher with little resistance to counter its momentum, rising another 14 points towards the goal of 2300.  Even more so, the Dow Jones Industrial Average (DJIA) is up 22 of the last 26 days (over 84% win rate) and has made new all-time highs 7 days in a row.  Despite

Technical Analysis: S&P 500 (SPX) experienced a light amount of selling yesterday, forming a doji candle pattern after establishing intraday all-time highs, yet again.  The Dow Jones Industrial Average (DJIA) is up 21 of the last 25 days (84% win rate). It was the only index among the big four that finished higher yesterday.  The Federal

Technical Analysis: S&P 500 (SPX) put together another strong rally, but under the surface, there was some signs of deterioration in the quality of the rally with the breadth to the upside being slightly outdone by declining issues. Typically, on a day like Friday, advancing issues should be rising on a 2:1 clip, at least.