Trading has been extremely active today. The SPY took a big hit today, down about 25 handles, and the market is in utter sell-off mode. The Dow is down about 200 points. We’ve even hit the 61.8% retracement. We took out...
Read MoreApple (AAPL) has been trading in a tight range recently, but looks poised for another major break to the upside. Apple has been forming a series of higher highs and higher lows and holding higher on the charts. After finding...
Read MoreYesterday was Fed Day, and not much damage was done despite a lack of QE3. The indices took a hit, but were able to work their way back, and most action toward the end of the day was muted resulting in mostly noise. Stocks still...
Read MoreMarkets continue to digest, t=it feels very quiet and volume is low so don’t do too much. The low of the day is 1353, under this the upper floor will be the next level to use 1343-1347. The 25% fib retracement stands at...
Read MoreOvernight PMI reports continue to signal slowing growth, as commodity prices declined to the lowest levels since November 2010. The FOMC is now out of the way, and the “European Summit” looms at the end of the month....
Read More(Below I have included two charts of my Inverse Head and Shoulders Pattern in the S&P: the 60-minute and Daily view, as of 3pm ET) The Fed pretty much came out and did what the consensus expected, extended Operation Twist,...
Read MoreTesla Motors (TSLA), one of the most successful and popular manufacturers of electric cars, has seen its share price jump nearly 5% already today after announcing a delivery date for its much-hyped Model S and an upgraded target...
Read MoreThe S&P is in a very tight range for now. It typically happens this way before Fed news. First hour range to trade against for the S&P is 1354 low, and the high 1359 (SPY low is $135.33, and the high is $135.86)....
Read MoreToday is Fed Day and Bernanke is speaking at 12:30, so expect a slow open. When Bernanke speaks at 2, his usual time slot, we expect the market to slow down around 11:30 or 12, so with his speech starting early today, we might...
Read MoreFutures are basically flat as today is “Fed Day.” I used to get excited way back when, as Fed Day typically entailed a lot of volatility and action, but it hasn’t been like that for awhile. For the last year or...
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