Russell 2000 (IWM)

Technical Analysis: Strong rally on S&P 500 (SPX) yesterday to jump start what is historically a bullish week of trading.  As has been stated in previous trading plans, the 5-day moving average continues to remain intact for the market as well as being tested on a daily basis.  Volume on SPDRs S&P 500 (SPY) dropped yesterday from the

Technical Analysis: Inside day (candle body contained inside the previous trading day’s body) of trading yesterday on S&P 500 (SPX) yesterday, that kept the current uptrend intact.  The 5-day moving average held strong on Friday.  Volume on the SPDRs S&P 500 (SPY) increased for a second straight day, but still remained below recent averages. Enthusiasm on the

Technical Analysis: Another day for the S&P 500 (SPX) where it manages to close with a doji candle pattern. The market, as has been the case all year long, shows some willingness early on to sell-off, only for the dip buyers to bail it out before the end of the day.  Volume on SPDRs S&P 500 (SPY) fell

Technical Outlook: Yesterday, S&P 500 (SPX) sold off for the fifth straight day with a dive in the final minutes of trading.  Despite trading lower for 5 straight days and 7 out of the last 8 days, the S&P 500 is only down 18 points, or less than 1% (2144 down to 2126), which is utterly

Technical Outlook: Major reversal on Friday’s price action when the market went from being firmly in the green, to instantly into negative territory on news that Hillary Clinton’s email investigation was being re-opened.  This creates some fresh volatility for the market as it had seemed, until Friday’s news, that it was comfortable just remaining dormant

Technical Outlook: S&P 500 (SPX) dropped for a third consecutive day yesterday. If the market sells off today, it would mark the first time since June 15th that SPX sold off four straight days.  On the volume side, SPDRs S&P 500 (SPY) saw a third straight day of rising volume and came in at average levels.  GDP

There is a strong level of resistance forming overhead on the Russell (IWM). On the RUT it is at the 1212-13 level and on IWM it needs to push through the $120’s.  On numerous occasions IWM has tested this resistance level and has quickly retracted in price – often times to the tune of

Technical Outlook: Friday had one of the more improbable rallies following an unexpected, great employment report, and sending the S&P 500 nearly to new all-time highs.  SPX is poised to establish new all-time highs at the open this morning. SPX has now risen 6 out of the last 8 trading sessions. Which will probably go

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.

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