• non farm payroll employment swing trading stock market

Technical Outlook:

  • Extremely tight range doji candle on the S&P 500 (SPX) yesterday. SPX only finished 0.02% higher. non farm payroll employment swing trading stock market
  • Price is wedged between the rising 20-day moving average and the 5 and 10-day moving averages overhead for the past 3 trading sessions. 
  • Non-Farm Payrolls report (employment) comes out today. Last time, the market soared following a massive beat. 
  • SPDRs S&P 500 ETF (SPY) volume was at its lowest level of the year. In fact it was less than the volume that was seen on a half day of trading on Christmas eve of last year. 
  • To put it mildly, volume in January was 3x the amount seen yesterday. 
  • CBOE Volatility Index (VIX) continues to drop. Tuesday’s pop is looking merely coincidental. Some rising support off of recent lows. 
  • 30 minute chart shows price back above key support at 2160, but seems tenuous at best. 
  • The bulk of the earnings season is coming to a close. No significant disasters from the big names that reported that negatively impacted the market as a whole. 
  • Nasdaq (COMPQ) has done a great job with establishing a rising trend-line of late. The only such index to have a uptrending pattern. 
  • United States Oil Fund (USO) continued its bounce yesterday. So far the bounce is strong but has a long way to go to begin making up for its losses of late.
  • The market, through the recent sideways trading, has managed to work off a great deal of the overbought nature of this market where it is not longer that. 
  • Overall, August is the worst performing month for the Dow and S&P 500. 
  • At this point, and with the election ahead, I’d expect the market to keep rallying higher. I don’t expect there to be a rate hike between now and the election. To do so would impact the market and thereby the election. I don’t think the Fed wants that, particularly since Trump has indicated that he would replace Yellen. 

My Trades:

  • Did not sell any positions yesterday. 
  • Added 3 new swing-trades to the portfolio yesterday. 
  • May add 1-2 new swing-trades to the portfolio today. 
  • Will consider hedging the portfolio as well with a short position. 
  • Currently 50% Long / 50% Cash
  • Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone

Chart for SPX:

SP 500 Market Analysis 8-5-16

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