Technical Outlook: Market pulled back for the second time in the last three trading sessions. The volume was extremely light on SPY yesterday, and barely above Christmas Eve’s half day of trading last year. Needless to say, volume was well below average readings and half of what was seen on Friday. Mini-bull flag pattern
Technical Outlook: Quiet day in the market yesterday with a finish five points higher on SPX. Right now SPX is riding that 5-day moving average. The last two days it has tested the MA and held it both times. Today, there is some pre-market weakness that will likely result in another test of the 5-day
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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 the two day bounce.
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So far the month of June  has been extremely tricky for traders. Overall it is down and in 13 trading sessions, 7 of them are negative. But at the same time, this market marched right up to within 1% of new all-time highs just a week ago. But as we have seen plenty of times
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It is a common theme for the market: S&P 500 gets to a key breaking point, everything is lined up for a big sell-off, but bulls and dip buyers come to the rescue and thwart the big breakdown. I mentioned in the last update, that I wouldn't be surprised to see us sell-off early on
Of course there should be about 15 more dead cat bounce attempts between now and the close, but I have to say, I am pleasantly surprised that the bears have the price action down below 2039. That is where it should be, but my expectations were diminishing rapidly over the past week for that
Technical Outlook: Wild trading session yesterday, that saw price fluctuated between +13 and -13 on SPX, only to close at break even for the day. Volatility was created by the FOMC minutes that were released and the notable hawkish stance it took in raising rates – possibly as soon as June. Head and shoulders was