Trade Setups

It is really hard to say what this market is going to do at this juncture. The gaps in either direction are the worst enemy for the market because it keeps drawing back the price action to the day’s starting point.  I’ve remained very nimble at this point and have kept my portfolio 90% in

This is a tough territory for the market here because we have seen time and time again this year, the bulls fail to push the market through 2120 on SPX – particularly so since late February. Without a break above 2120, which the market came close to doing on Friday but couldn’t, why buy any

Oh my Mr. Market – can you please make up your mind? Up, Down, I don’t care, but try finding your inner-direction and go with it.  That’s the frustration the traders are all feeling these days. The bulls can string together a few good consecutive days of trading but its grand total doesn’t add up

The bulls looked like they were on a mission this morning only to lose favor midway through the trading session. As it currently stands there is a nice shooting star candle being formed on the $SPY and it is right near the all-time high resistance. So that kind of looks like a repeat of the

It is not the best of times and it isn’t the worst of times…. it is somewhere right in the middle for this market. I honestly hate this market. It doesn’t trend consistently in either direction. The day might be up for the SPX on one day but underneath the surface two stocks for every

The market is on some slippery footing to start the week. While the uptrend remains intact on the daily charts, the one problem that I see currently is the struggle to hold the 2111 breakout level that it had previous struggled to break through. Overall though there remains plenty of ground the bulls can give

Technical Outlook: SPX continues, and continues to struggle for real direction. Despite what seemed like a likely breakout of consolidation on Monday, SPX yet again decided to give back those gains and trade in the monotony of consolidation that has plagued this market for the entire year minus one episode in February that provided traders

Still trying to figure out this market? Join every other trader out there. After a day that saw SPX drop all the way down to 2072, SPX is now trading at 2102 – yup a 30 point reversal in less than a day. SPX has gone from being uber bearish on Thursday to the bears

The bears – they’ve tried rearing their heads the last couple of days, and it really looked like they were going to send this market back down to the 2040 level for a little while there this morning before finally popping back up again.  Nonetheless, the market has been floundering without direction to start this

Not a strong day today for the market but I am not overly concerned by that at this point.  I mean, for Pete’s sake, the S&P 500 is up 5 out of the last 6 days and 7 out of the last 10. At some point it has to take a breather.  During this time