Missile Strikes, Employment and the Stock Market Yesterday SPX bounced off of that 50-day moving average but overnight you had some pretty intense news coming out of Washington that they launched missiles into Syria. You can find the details everywhere about the strike, but how that affects the market is [...]
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 [...]
Technical Outlook: Another sell-off yesterday, another ramp into the close. This time the bulls wiped out 15 points in losses on S&P 500 (SPX) to close the day flat. As a trader, this is not the kind of market environment that you want where price simply reverts to the mean. You [...]
Technical Outlook: Extremely tight range doji candle on the S&P 500 (SPX) yesterday. SPX only finished 0.02% higher. Price is wedged between the rising 20-day moving average and the 5 and 10-day moving averages overhead for the past 3 trading sessions. Non-Farm Payrolls report (employment) comes out today. Last time, [...]
