Market Today

Technical Outlook: For 9 straight trading sessions, the S&P 500 (SPX) has followed a pattern of up, down, up, down.  Nasdaq (COMPQ) has traded in the same pattern for 11 straight trading sessions.  Russell Index (RUT) looked the strongest yesterday as it broke out of its 10-day trading range to the upside.  The big question

Technical Outlook: Extremely dull price action has a grip on the market right now. That should change tomorrow when the Fed’s FOMC Statement comes out.  For the better part of two weeks the major indices have traded sideways.  SPX had a real chance for a breakdown yesterday and instead, it rallied  hard into the close,

Technical Outlook: SPX managed to climb higher on Friday, on little to no volume.  SPY volume came in less than the day prior, and continues to hover at its weakest levels of the year.  Last week marked the lowest SPY volume of the year.  Tons of earnings reports this week and next. This week will

Technical Outlook: Dow Jones Industrial snapped a 9-day winning streak. Last two times that has happened, it made it to 10-days. Not so yesterday.  SPX finished lower as well yesterday and below the 5-day moving average (by one point).  Again though, the rampers showed up at 3:30pm to push the market off of the lows. 

Technical Outlook: SPX pulled out of its 3-4 day holding pattern and broke out to new all-time highs yesterday.  5-day moving average continues to hold strong. Look for a break and close below the 5-day for signs of short-term weakness.  Slight increase in volume yesterday, but still way below recent averages.  The trade to the

Technical Outlook: Market pulled back for the second time in the last three trading sessions.  The volume was extremely light on SPY yesterday, and barely above Christmas Eve’s half day of trading last year. Needless to say, volume was well below average readings and half of what was seen on Friday.  Mini-bull flag pattern developing

Technical Outlook: Quiet day in the market yesterday with a finish five points higher on SPX. Right now SPX is riding that 5-day moving average. The last two days it has tested the MA and held it both times.  Today, there is some pre-market weakness that will likely result in another test of the 5-day

Technical Outlook: SPX finished lower for the first time after five straight green days.  Futures following Friday’s close sunk on the failed coup attempt in Turkey. All those losses were erased with the opening print on Sunday night.  5-day moving average still holding strong on the current market rally.  At this point, the market could

Technical Outlook: SPX rallied for the 10th time in the last 12 trading sessions. A rally that is as good as any we have seen over the past few years, except this rally established new all-time highs, and still hasn’t stopped yet.  Terrorism struck again, this time in Nice, France. Absolutely, and utterly disgusting, the

Technical Outlook: A day of rest for the market yesterday – Dow and SPX finished flat, while small caps and tech pulled back a shade.  Futures looking at a significant gap up this morning following a well received JPM earnings report.  Considering price action yesterday, it wasn’t surprising that SPY volume dropped off some and