Russell 2000 (IWM)

Technical Outlook: Strong rally yesterday changed the look and feel of the sell-off that we have seen over the last three weeks.  One day rally essentially wiped out the previous two weeks of selling.  Just goes to show you how shallow this current sell-off is. Typical 3-week sell-offs see on average -6.3% loss. This current

Technical Outlook: On Friday, SPX dropped nearly 1%. But more importantly managed to close below the 50-day moving average, despite bouncing off of it the previous two times.  More importantly is the massive head and shoulders pattern that has been forming over the past two months on SPX. A move today and close below 2039

I did a technical video of the markets and where we stand going forward.  I reviewed the following: SPY, QQQ, IWM, DIA, GLD, SLV, USO, FB, AMZN, NFLX, GOOGL, AAPL, XLE, GM, LNKD Enjoy!

What a crazy week. Honestly, it would have felt much better if we could have simply avoided the trade in USO. It started off great on Wednesday, then you have the 'out of left field' news events with the Libya blockade, and more importantly the massive inferno in Canada, affecting 88,000 workers and thereby crippling

The market action today has been incredibly choppy, and if you are a bull in this market looking to buy the dip, you can’t be liking the action you are seeing.  Let’s face it, the bulls had everything going in their favor this morning:

Technical Outlook: Another sell-off in SPX yesterday that once again saw the bulls buy the dip at the days lows and drive the price higher, thereby eliminating a good chunk of the day’s losses.  It is hard to say that the bears have full control of this market when the bulls manage to rally the

Technical Outlook: SPX followed up with Friday’s afternoon recovery with a bounce to the upside yesterday that saw price reclaim the 20-day moving average and stall out at the 5-day moving average.  Technically, very little improvement. On the 30-min chart of SPX, the rally simply took price straight into the neckline resistance of the head

Technical Outlook: Another day of selling, but half the day’s losses were erased by the dip buyers in the final hour of trading.  This continues to be the norm as the dip buyers aren’t in fear of the current sell conditions that we have seen of late.  SPY volume on Friday was through the

Let’s just say that the Russell index does not like to put forward a good challenge to the 50-week moving average and this week has been no different. After testing the 50-week moving average last week for the first time since early December of last year, the Russell index tested it this week too. And

Technical Outlook: SPX had a major sell-off yesterday that saw the index drop back below the 5 and 10-day moving averages. More importantly the 20-day moving average was breached yesterday with close below the MA.  SPX close to trading below the lows from last week. It would be a first for the index in