Market Today

Technical Outlook: Following a weaker than expected employment report, S&P 500 (SPX) managed to put together a small rally that lifted price back above the 5, 10 and 20-day moving averages. All three of which are just four points apart in total.  Following the highs being established early in the trading sessions, the market proceeded to give

Technical Outlook: Another sell-off yesterday, another ramp into the close. This time the bulls wiped out 15 points in losses on S&P 500 (SPX) to close the day flat.  As a trader, this is not the kind of market environment that you want where price simply reverts to the mean. You want trendlines and chart patterns.

Technical Outlook: The S&P 500 (SPX) actually attempted to make a legitimate sell-off yesterday, but then the afternoon happened and the ramp buyers emerged to lift market off of the lows and erase 60% of the day’s losses.  The buyers are exhausted at this point. When they rally it is just within a tight 1.5% consolidation area

Technical Outlook: Another extremely boring trading session on the S&P 500 (SPX) yesterday. Weakness prevailed the entire day until the last 1.5 hours of trading that saw the market rally off of the lows to minimize the day’s losses.  There is actually a developing head and shoulders pattern on SPX. With as flat as the market

Here’s one of the more intriguing trade setups that is out there in Goldman Sachs (GS). I just made this trade in the SharePlanner Splash Zone. The consolidation was extremely tight over the past few days and now it is coming out of it quite nicely the potential for the $180’s in the coming

Technical Outlook: S&P 500 (SPX) rallied back into the range high resistance yesterday, and potentially nullifying the pullback opportunity the market was looking going into the week.  SPDRs S&P 500 (SPY) volume dropped off yesterday from the previous day’s above average reading. Now it is in line with what what we have seen over the

Technical Outlook: S&P 500 (SPX) saw a massive reversal on Friday following an attempt at establishing new all-time trading highs. Despite the breadth and extent of the sell-off, the bears managed to rally SPX back close to break even on the day.  SPX is down 3 straight days, but still has yet to manage to

Technical Outlook: S&P 500 (SPX) continued its selling yesterday for the fourth time in the last 5 trading sessions.  Currently SPX is down for the month, albeit less than one point. If this holds, it will snap a the market’s streak of five months trading higher.  Watch 2168 today on SPX. If that price level breaks,

I almost got into Netflix (NFLX) yesterday but he market conditions weren’t right and resistance was still keeping it down.  But today is a completely different story, and now NFLX is breaking out of resistance and beyond. Obviously getting an upgrade with a $145 price target doesn’t hurt matters, but from a technical standpoint

Technical Outlook: Bigger than usual trading range for S&P 500 (SPX) yesterday, and biggest sell-off that the market has seen August 2nd. Would have been the biggest since the Brexit sell-off, but the bulls stepped in during the last 10 minutes and goosed the market off of its lows.  More importantly, SPX broke the 20-day moving