Nasdaq 100 (QQQ)

Technical Analysis: Despite Oil (/CL) experiencing its biggest rally since March (+9%), the S&P 500 (SPX) sold off in the afternoon and into the close to finish in negative territory.  Even with banks and oil companies soaring, it wasn’t enough to lift the market higher.  Volume on SPDRs S&P 500 (SPY) had a strong bearish engulfing candle pattern

Technical Analysis: Yesterday was peculiar in the price action that unfolded on the S&P 500 (SPX) where price greatly retracted at the close of the day and gave up most of the day’s gains. This is indicating to me that market strength is being used to book recent profits.  Should this happen again today, and more

Technical Analysis: Strong rally on S&P 500 (SPX) yesterday to jump start what is historically a bullish week of trading.  As has been stated in previous trading plans, the 5-day moving average continues to remain intact for the market as well as being tested on a daily basis.  Volume on SPDRs S&P 500 (SPY) dropped yesterday from the

Technical Analysis: Strong move from the market yesterday, with the S&P 500 (SPX) rising another 0.5% and just six points away from new all-time highs.  Currently SPX is underway on the second leg of the bounce that began last week. If it is anything like the Brexit bounce it should still have more room to run

Technical Analysis: S&P 500 (SPX) took a breather following the previous day’s gains. Despite selling off, the market only finished 3 points lower, and formed a doji candle inside the previous day’s candle body.  The 5-day moving average held up well yesterday following a test of it. The last four trading sessions have seen tests and

Technical Analysis: Big day for S&P 500 (SPX) as price broke out of its 3-day doji-range and pushed to the upside.  SPDRs S&P 500 (SPY) saw its volume drop for a fourth consecutive day and fall below recent averages.  The 5-day moving average continues to hold strong for SPY as it has tested and bounced each

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

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

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

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