I laid out a number of options yesterday morning for likely direction. Bullish and bearish options #1 were straight breaks of the 1335 SPX resistance or 1290 SPX support levels respectively, but I mentioned that I thought these...
Read MoreMarket volatility is coming in strong as we are seeing moves > 1%. This is making it hard to swing trade because the moves are not in the same direction. Big down day two days ago to be erased by a big up day yesterday. The only...
Read MoreEconomic Reports Due out (Times are EST): MBA Purchase Applications (7am), Producer Price Index (8:30am), Retail Sales (8:30am), Business Inventories (10am), EIA Petroleum Status Report (10:30am) Pre-market Update (Updated...
Read MoreQuick Glance at the Market Heat Map and Industries Read more…
Read MoreI’m looking to add a little spice to the morning trading plan – and I was flirting with some different ideas and one of them was adding visuals to the morning trading plan so that you aren’t bombarded with gobs...
Read MoreCan consumer/economic confidence be wooed once again? It will take some doing after Tuesday’s soft data:… Read more…
Read MoreThat was an ugly bearish engulfing daily candlestick on SPX yesterday, and everyone seems to be bearish today. They may be right, but we aren’t out of bullish options yet until we see a conviction break below the 1290...
Read MoreEconomic Reports Due out (Times are EST): NFIB Small Business Optimism Index (7:30am), ICSC-Goldman Store Sales (7:45am), Import and Export Prices (8:30am), Redbook (8:55am), Treasury Budget (2pm) Pre-market Update (Updated...
Read MoreDisappointing day for bulls today as what looked like would be a soaring open when futures opened Sunday night on news that Spain was seeking a bailout, quickly vanished as the US market open came about. I think for the most...
Read MoreThat was a nice looking IHS scenario on various indices on Friday morning, but realistically it’s not going to happen. Technically it still could, as ES isn’t currently much above Friday’s highs, but the...
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