Technical Outlook: Very low volume day yesterday on the SPY and SPX traded within an eight point range. All key support levels were held up yesterday, and the 20-day moving average was tested and held as well. The key for the bulls moving forward is to push through the declining resistance off of the
Technical Outlook: Another major rally yesterday following the eight day pullback, gives SPX 64 points in gains in the last three days. SPX has managed to reclaim the 200-day moving average that posed as resistance on Tuesday. Also, it reclaimed the 10 and 20-day moving averages, the latter of which puts SPX in the
Technical Outlook: SPX was off to a good start yesterday, and looked like it may string two consecutive days of gains together until a bomb scare at a stadium in Germany resulted in the market selling off all the day’s gains and then some. The sell-off happened at the 200-day moving average, and that now
Technical Outlook: Yesterday’s bounce was significant in many ways. First, it came off of the price level where the market broke out of the double bottom base it had been in. That base breakout level held perfectly. Secondly, the bounce coincided with the 38.2% Fibonacci retracement level. Now, today, the market must follow through to the
Not your typical way of posting charts these days, but with technology and to use these digital pens, it makes it far more easier to point out more of the nuances of a chart than ever before... so here you go.... Apple $AAPL: Microsoft $MSFT: Alphabet (Google) $GOOGL: Netflix $NFLX: Walt Disney Company $DIS:
I’m in the home stretch of October and it has been a dandy of a month so far. Try out my service by signing up for a Free 7-Day Trial to the SharePlanner Splash Zone and with your membership, you will get each and every trade that I make with real-time text and email alerts (international
Technical Outlook: Choppy trading session yesterday that saw price give up all of its gains early on before finally rallying in the afternoon. SPY and SPX were unable to break and close above the 50-day moving averages. This resistance level is in conjunction with price level resistance that confirms the double bottom at
Technical Outlook: Yesterday marked a light volume pullback just below the double bottom confirmation level on SPX. Volume on SPY yesterday was incredibly weak, lower than the day before and much well below the current average. Futures are looking at a gap up this morning and potentially pushing through the heavy resistance at 1997
Technical Outlook: SPX rally has now spanned 116 points off of the 9/29 lows and 106 points off of the 9/28 closing lows. Shorts have been forced to cover their positions in a very aggressive manner of late, fueling much of the rally seen of late. The downtrend off of the 8/18 highs was broken
Technical Outlook: For a second straight trading session, the markets will gap down due to the Chinese devaluing their currency. Stocks like Apple (AAPL) who do a large amount of business in China will be most affected by this. SPX also is looking at a gap down and below the 200-day moving average, which