Support

Absence of Nuclear Armageddon leads to a possible bear trap Futures are spiking higher this morning. And for good reason – the world isn’t engulfed in Nuclear War. North Korea tried to launch a test rocket, but that rocket blew up in its face before it could even get off the launch pad. Good for

Price support holding on, moving averages are not On the surface, it wasn’t a huge sell-off for the stock market. Far from it. SPX finished about 0.33% lower on the day, which seems like a walk in the park at first glance.  But under the surface, things were far worse.  The breadth was far more

The beloved stock on the NYSE CAT is getting pummeled today. And if you have been watching the financial news or following me on Twitter, you’ll know that they are getting investigated today by practically every agency in the Federal Government at their corporate offices. This isn’t new for Caterpillar (NYSE: CAT) as it has

You'd have to be living in a cave to not realize that Amazon (AMZN) has been part of a most impressive rally. But following a three day pullback, the Amazon share price today sits right on a key long-term support level.  Check out the Amazon stock chart below and you'll see exactly what I am talking

Tesla Stock Analysis: The Technical Picture Tesla (TSLA) reported earnings last night and while it was received well initially, the Tesla stock price today is getting hammered as traders woke up to a totally different situation this morning. Tesla shares sold off by by the biggest amount that we have seen since the massive rally

Technical Analysis: Quiet day yesterday for the stock market as the S&P 500 (SPX) pulled back a meager 5 points.  Volume on SPDRs S&P 500 (SPY) was dropped significantly from the previous day’s reading and was well below recent averages. You can expect even lighter volume today and tomorrow as more traders leave for the Christmas holiday.  Price action

Technical Analysis: Another “sell-off” that was hardly a sell-off on Friday, where price basically stood still.  Right now, it is more likely that the bulls are alleviating overbought conditions through “time” rather than “price”.  The steep rising uptrend on S&P 500 (SPX) could possibly be tested today at 2252.  The only rising uptrend that has been broken

Technical Outlook: S&P 500 (SPX) for a third straight day, tested the 2120 support level and held it. There hasn’t been a strong, sustained bounce off of this price level though to suggest the market is done with the current sell-off. On the SPDRs S&P 500 (SPY) volume has decreased for a second straight day – volume readings

I’m not trying to dog-pile on Freeport-McMoran (FCX) here, but there is some major technical problems arising in this stock.  Up until yesterday, it was still a play you could take as a bounce off of support. Although, I didn’t play it (simply because bounces off of breakout support usually happens quite rather and doesn’t

VIX back at critical support. Can it bounce here? For the past two years it has done so religiously and in the process has stalled out any market rally that was underway.  Which is interesting because the current market is rallying to new all-time highs, but remember how the past 15+ months it couldn’t break