Trade Setups

Technical Outlook: Two days of consolidation following Monday’s small rally.  In the process of the coiling it is perfectly holding the multitude of moving averages found underneath it (5, 10, 20, 50). On a day-to-day basis, very little is actually changing until SPX puts in a higher high at 2087 or a lower low at

Here’s the bearish list of trade setups for the week that you’ll want to keep close tabs on. There are a lot of good plays here that are setting up nicely as we speak.  We are attempting to finish higher for the third straight day – which is something we haven’t seen since mid-February. Also,

The market, no surprisingly has rallied off of the horrific sell-off in futures due to the bad employment number and is now sitting on a near one percent up day. If we can get some follow through in the days ahead and even possibly make another run towards all time highs, then the chart below

As they entered the tomb, they saw a young man dressed in a white robe sitting on the right side, and they were alarmed.  “Don’t be alarmed,” he said. “You are looking for Jesus the Nazarene, who was crucified. He has risen! He is not here. See the place where they laid him. – Mark 16:5-7   May

The bears have made some progress towards erasing yesterday’s gains. However, it doesn’t seem overly impressive at this point, unless they can stage an end of the day sell-off. Instead it has more of the look and feel of the rally from 3/12 through 3/20 where the market moved in a two steps forward/one step

The market is ripping higher, the only problem is that the charts show a limited ceiling for this rally before having to fight through some heavy resistance in the 2110’s.  I’m not participating in this rally today, as the risk day-to-day has become very difficult to gauge and finding the true direction of this market

Technical Outlook: Ascending triangle remains broken despite a slight bounce on Friday.  Futures popping this morning on speculation of further easing in China.  Potential double top on the daily chart of SPX that confirms on a drop below 2040.  Typically the first day the market bounces after a large sell-off is much bigger than the

The bulls are showing very little desire to keep the down-up-down-up pattern of this market intact today, as the SPX is making new intraday lows as I write this post.  I’m holding off on adding any new positions today as there is absolutely no edge in this market for trading to the long side.  Sometimes

Today’s sell-off seems to be slowly getting bought up by the bulls so far today and quite a bit off the lows of the day.  But the big question mark is what the FOMC Statement will say tomorrow. Will they, or will they not remain “Patient” in terms of when they eventually raise interest rates.

SPX is reversing today, and looks to have found support at the 2040 level.  We definitely are not out of the woods yet, but it doesn’t seem like the bears have a firm grip on this market any longer. If that is the case, then it becomes a matter of how long can the bulls