Russell 2000 (IWM)

Technical Outlook: Extremely dovish and extremely unexpected FOMC Statement yesterday that cut the yearly outlook of 4 additional rate hikes down to 2 additional rate hikes.  As a result, Yellen, by cutting the number of rates for the year, essentially gave the market the equivalent of two rate cuts yesterday.  Be careful today, because a

Technical Outlook: Pre-market strength following dovish actions taken by Draghi and the ECB has the market looking to breakout of the 30 minute bull flag pattern on SPX.  SPX looking to get back above the 2000 price level.  Declining resistance at 2020 off of the December highs and a test of the 200-day moving

Market and stock analysis including $SPX $SPY $QQQ $IWM $COMPQ $STT $FB $AMZN $NFLX $GOOGL $USO Enjoy!

Ahead of Janet Yellen’s testimony in front of Congress tomorrow morning, I have questions I want you to ask yourself: 1. What are the chances that Yellen’s remarks will have wording in it that will create a selling frenzy for equities tomorrow?  – Answer: Odds are not favorable. A lot of damage has been done,

Technical Outlook: Huge move on Friday following the negative interest rate announcement by the Bank of Japan, creating a 46 point move on SPX and a massive short squeeze as a result.  I still consider this bounce at this point to be a dead cat bounce with a ceiling of around 1990-2000. If this

Technical Outlook: SPX bounced back from Monday’s decline creating a 3-day period of choppiness for the market as it is trying to digest recent gains. With futures pointing downward, there is the possibility of continued choppiness today.  FOMC Statement comes out today and will spur on additional volatility. I expect that FOMC will play this

IWM Short Setup: 1/25: Heavy distribution in the futures overnight followed by IWM breaking its lows from Friday suggests this ETF is looking to retrace back towards the lows. I'm not looking to get heavily short here. Instead I will look to use it as a hedge against our two existing long positions so that

Technical Outlook: SPX down in the pre market following some comments out of Bullard that was perceived as being hawkish, and of course bearish for the market and stocks.  The 200-day moving average is the key level to watch here today. The 20-day moving average will be broken immediately at the market open. I am

Technical Outlook: SPX managed to put a stop to the four-day sell-off yesterday and rally off of the 20-day and 200-day moving averages a slight bit.  SPY volume dropped off again and was well below average.  The price action of the last five trading days, despite four of them finishing lower, does not

Technical Outlook: Significant pullback that saw price on SPX pull back 1% yesterday .  The converged 20 and 200-day moving averages will be a key testing point for the bulls today should the sell-off continue for a fifth straight day.  Volume on SPY increased for a second straight day yesterday and came in