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 [...]
The Bears keep knocking at the lows of the day but the bulls won’t let them come through. Still, a fairly bearish day on the stock market, and it will be interesting to see how that translates into tomorrow. Is the selling done, or just a quick brexit-break from the [...]
Technical Outlook: Day 2 of the dead cat bounce unfolded yesterday and it was a brilliant one. Back-to-back +30 point days on SPX is a rarity in general, but not when you are coming off the heals of a major sell-off. Much of the Brexit losses have been erased following [...]
Technical Outlook: SPX continued its sell-off for a fifth straight day. The market traded higher all day long and reacted positively to the FOMC Statement until the final thirty minutes of trading where it sold all of its gains, and finished lower on the day. SPX still remains below its [...]
