$SPY finally made it above the 140.64 level after 3pm. let's see if it can spike on the last 30 minutes and close above 141.12 so we set ourselves well before tomorrow and the speech that the Fed is preparing. As far as I know, the 3rd support in the...
$SPY dropped just under my 1st support of 140.28 to around 140.19, and bounced back. Actually 140.34 is the 3rd support on an intra-day chart, so I do believe the market is setting itself up for another leg of new highs. We will have that confirmation...
A break and hold below channel support on the SPX:VIX ratio pair would indicate further weakness to come in the S&P 500 Index, as shown on the Daily chart below (as observed in intraday action on Thursday). The RUT:RVX ratio pair is approaching...
As we are currently hostage of one man's speech, I would like to make some important reminders of some the things I have written lately. On July 26, I wrote the following paragraph. "We did hold the 50MA, now bulls just need to step in and take control...
Pre-market update (updated 8:30am eastern): European markets are trading 0.5% lower. Asian markets finished -1.0% lower. US futures are moderately lower ahead of the bell. Economic reports due out (all times are eastern): Jobless Claims (8:30am),...
As you know by now, I don't buy a lot of stocks under $5.00. That doesn't mean that I won't, but it really has to catch my eye! Well Northern Dynasty Minerals (NAK) has done just that! It has been on a downtrend since January of 2011, and since June of...
Today's trade setups involve some big name companies. Visa (V) setup comes from one of my favorite defensive plays out there right now, while United Health Group (UNH) is in a sector that is beginning to look bearish across the board. Here's today's...
$SPY opening slightly higher as GDP expanded at a 1.7 percent annual rate that was up from last month's 1.5 percent estimate and in line with economists' expectations. The economy grew at a 2.0 percent pace in the January-March period. We are still to...
Pre-market update (updated 8:30am eastern): European markets are trading mixed/flat. Asian markets finished 0.3% higher. US futures are slightly higher ahead of the bell. Economic reports due out (all times are eastern): MBA Purchase Applications...
The Chart of the Day... From one of the SharePlanner's regular contributors - and for the elliot wave theorists too. Quick Glance at the Market Heat Map and Industries Notables: I'd say that the S&P for the most part had a shadow of bearishness...
I took a position in $NKE today at $97.41. The stock moved extensively on the heels of Stifel Nicolaus reiterating its "BUY" rating sighting increased demand for the back to school season. Technically, the stock has cleared the 8 ema with volume and is...
$SPY stuck in the 141.50s level. Holding most of the names I follow hostage, and not moving either way. I spent the day scanning and watching for names to break up or down. I did missed an awesome trade in $MON and $CNX. Tomorrow we have GDP, Pending...
The market continues to struggle to break and close above the 1422 highs on the S&P 500 established back in April. As a result, there's reason for some concern, and if the bulls continue to squander the opportunity, you'll likely want to move your...
SPX continues to chop around, appearing like it doesn't want to do anything until that Jackson Hole speech on Friday. If that's the case, we've got a fairly boring week ahead of us. Here's today's lazy trade long and short: Read more...
$SPY in a very tight range. Flirted with breaking the 141.54 level. tried it and failed. Market is clearly waiting for new out of Jackson Hole, so we may be in for some side way action in the next days. We need a catalyst, and it is just not coming. This...