Technical Outlook: SPX traded flat yesterday on extremely weak volume – the weakest volume day of the year. SPY volume was only 10% higher than what was seen on Christmas eve. For the bulls the recent selling isn’t overly concerning as it extremely shallow and light volume. The 5-day moving average yesterday was tested
This will be a short update due to the lack of activity in the swing-trading portfolio this past week and and the fact that it was a holiday week. Basically we had two trades: SPXU on Monday and TLT to close out the week on Thursday. And really SPXU was the only trade to be
I’ll keeps this post brief and let the chart do the talking… 4 reasons to consider buying TLT right now.Â
Futures still are maintaining the slightly positive bias heading into the open. There is more merger activity going on as well, with Air-Tran catching a bid (and helping my Delta (DAL) shares out in the process) and Walmart (WMT) trying to expand operations into South Africa. LONG: International Business Machines (IBM)