• Today’s Trading Plan: Horrible Breadth

    Technical Analysis: S&P 500 (SPX) has risen for a fourth straight day (before that it had dropped nine straight days).  SPX had a massive doji candle that formed yesterday, that puts into question the sustainability of this current rally.  Even more perplexing, the Dow Jones Industrial Average (DJIA) was up 218 points, while Nasdaq Composite Index (QQQ) was down

    By |Published On: November 11, 2016|2 min read|

  • Today’s Trading Plan: One Week Left Of The Insanity

    Technical Outlook: Yesterday, S&P 500 (SPX) sold off for the fifth straight day with a dive in the final minutes of trading.  Despite trading lower for 5 straight days and 7 out of the last 8 days, the S&P 500 is only down 18 points, or less than 1% (2144 down to 2126), which is utterly

    By |Published On: November 1, 2016|2 min read|

  • Today’s Trading Plan: Downside Momentum Starting to Pick Up

    Technical Outlook: S&P 500 (SPX) dropped for a third consecutive day yesterday. If the market sells off today, it would mark the first time since June 15th that SPX sold off four straight days.  On the volume side, SPDRs S&P 500 (SPY) saw a third straight day of rising volume and came in at average levels.  GDP

    By |Published On: October 28, 2016|2 min read|
  • diamond topping pattern

    A Super Diamond Topping Pattern on the Nasdaq

    Just for a minute and take a look at the chart of the Nasdaq for the past two years. It has to be the worst time period ever for the chart. There is no direction, no conviction and more importantly, no sustainability in either direction.  Every dip is met with insatiable buying and every

    By |Published On: June 30, 2016|1 min read|
  • nasdaq weak use as a hedge position

    Nasdaq Offering a Descent Hedge Play Here

    The S&P 500 has hardly had a down day, and its cousin Russell wouldn’t know one if you slapped him across the face with it.  But take its tech-savvy brother, Nasdaq, and you have someone lost in his ways. While the market keeps scorching higher (okay, “scorching” may be an exaggeration), the Nasdaq has

    By |Published On: June 9, 2016|1 min read|
  • nasdaq breaking

    Today’s Trading Plan: Nasdaq Breaking

    Technical Outlook: Another last minute save by SPX to rally price from negative territory to positive in the final 30 minutes.  This is becoming the norm of late to spend the day in a weakened state only to rally in the final minutes.  Massive head and shoulders pattern forming on the SPX 30 minute chart.

    By |Published On: April 27, 2016|2 min read|
  • testing major support for nasdaq qqq

    Nasdaq (QQQ) Breaking Below Key Support

    Intraday the Q’s took a bit of a hit today. On the daily it is finding support at the 50-day moving average.  But when you zoom in on the 30 minute chart, there is some weakening taking hold and with the break below $104, there is a good chance that we see at least a

    By |Published On: March 10, 2016|0 min read|