Market Today

Technical Outlook: Major continuation yesterday to the downside, saw SPX shed almost another 2%.  Volume fell off from Friday, but was still extraordinarily high on SPY yesterday. The biggest phenomenon yesterday was the massive sell-off and the VIX actually pulling back 7.4% to close at 23.85.   T2108 (% of stocks trading above

Technical Outlook: To say that Friday was an epic market would be an understatement. Following the Brexit news, SPX dropped a cool 3.6% and looks to continue lower again today.  Here is what you have to be careful of  here – central banks. The Central banks will not want this market to continue its drop

Technical Outlook: Essentially the bulls counted their chickens before they hatched yesterday. Brexit voting did not go the way they expected despite rallying SPX 28 points yesterday.  SPX looking at one of the bigger, historical gap downs that it has ever seen.  Essentially today’s gap down going to put us back near or below the

Technical Outlook: For the third straight day, SPX reversed off of its highs of the day, with yesterday being the strongest instance yet.  Interestingly enough, the VIX 14.6% yesterday to 21.17 – a massive move for such a small decline.  This is in part due to the fears surrounding a British vote to

Technical Outlook: SPX has day four of one of the most dull dead cat bounces that you’ll ever see. With that said, the sell-off that preceded it was quite dull in its own right, with one of the most shallow five day pullbacks you’ll ever see.  The volume continues to melt away for a

Technical Outlook: Yesterday’s rally resulted in a blip on the radar. Very unimpressive, in that it gave up nearly 60% of the day’s gains by the close of the day.  2100 was as high as the SPX could get and is where the immediate selling took place at.  Even 2085, which was quite a surprise

Technical Outlook: SPX failed to provide the necessary follow through Friday, giving up 7 points to the downside.  50-day moving average remains an issue for stocks.  The market is looking at a massive gap higher this morning – the likes of which is rarely seen. SPX is looking to go from its 2071 closing price

Technical Outlook: Yesterday marked a hard sell-off in the early going as the bulls were dumping their stocks as fast as they could, but then, after the first 30 minutes of trading, a base was established, and the market bounced throughout the remainder of the day.  SPX took a 21 point sell-off early on and

Technical Outlook: SPX continued its sell-off for a fifth straight day.  The market traded higher all day long and reacted positively to the FOMC Statement until the final thirty minutes of trading where it sold all of its gains, and finished lower on the day.  SPX still remains below its 50-day moving average.  Most concerning

Technical Outlook: SPX sold off yet again yesterday, but managed to find some dip buyers at the end of the hour – namely in the last hour of trading and boost the market back near break-even – recovering about 70% of the losses on the day.  Conflict between the SPY and SPX (due to