Futures have been down all morning, about 7-9 handles. Some blame it on Merkel’s statements that they’re rejecting the reworking of the Greece deal and Spain and Italy yields are rising. Or it could just be options...
Read MoreNever has there been more of a truer statement than this current trading season we are in. Believe me when I say this, I learned to run the hard way. I was always the believer that sitting in front of my computer allowed me to...
Read MoreToday we have a market fueled up by earnings. We tried to go down to the Philly Fed number, but obviously that did not work. The SPY’s are up $5.40, and I have two specific momentum trades that I would like to walk...
Read MoreMarket started off strong as several earnings reports were better than expected. Tech is leading the way, which is the way we like it as traders. SPY opened up above the recent pivot of $137.50. Within the first 60 minutes, it...
Read MoreFutures are up this morning as investors have been cheered by a solid round of slightly stronger than expected second quarter results with earnings season now in full gear. Yesterday, stocks finished in the green for the second...
Read MoreFutures are up 5-7 handles as multiple stocks reported earnings, whether good or bad, and indicated higher. The market is making it seem that stocks are beaten up enough going into earnings that a slight miss is in-line, in-line...
Read MoreWe came in today with futures down a bit, but support 1 held within about the first 15 minutes and we pushed past one pivot to close higher. Looking at the daily chart of the SPY, as a technician there’s a lot to like....
Read MoreSPY held support#1 early on. The low of the day as of now is $135.96. Most stocks that had soft earnings rallied off of macro support. Indices went positive and SPY broke above yesterday’s high of $136.64 to hit a high of...
Read MoreThe market had a nice reversal yesterday, as we had just the second up day in the past 9-10 days. Overall, we began a gap that could get a little higher and move up to $138-$138.20, but we are currently trading back in the gap....
Read MoreToday should be another fun day as Bernanke moves from the Senate to the House! I’m sure it will be humorous to watch these guys who can’t overcome our broken political system to get a single thing done in Washington...
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