The Outlook The most important thing on Tuesday was stocks not falling further but instead holding onto support levels at 5050. Even the close still saw the 5050 level holding on. By the close, all the technical indicators were signaling that the selling had pushed the index to deeply oversold. The Rate Of Change signal switched near the close...
The Outlook We got a bounce Monday morning at the open and the day probably would have ended positive except for the conflict between Israel and Iran. On Tuesday stocks are even more oversold than they were on Monday. That means there will be more opportunities for trades in oversold stocks. Remember to stay with large cap quality companies and...
The Outlook There should be a bounce attempt today with the SPX sitting at the 50 day moving average and the Lower Bollinger Band. It would be rare for no bounce attempt to occur. However the bounce might not last beyond a few hours or the day. A lot will depend on earnings tomorrow. The SPX closed at 5114 on Friday, sitting right inside a...
The Outlook I am expecting bank earnings to beat estimates and the market to move higher. Wells Fargo Stock (WFC) If the stock moves higher today after earnings I plan to sell the $55 put strike for April 26, May 2 or May 17 expiry. JP Morgan Chase Stock (JPM) I am expecting they will beat estimates and the stock will move above $200. I plan to...
The Outlook On Wednesday the SPX closed above the 5150 level which was a bullish signal but all the technical indicators are pointing to a lower day again on Thursday. If the PPI numbers either match or are below estimates, stocks may try to rally. However after Wednesday's CPI numbers being higher than expected, most investors are of the opinion...
The Outlook Tuesday was actually quite bullish as stocks sold lower but failed to break down as much as we saw on Thursday last week (April 4). You can see in the chart below that the early morning low on Apr 9 did not meet or exceed the low last Thursday. This is a signal for the bulls advising them to setup more trades as the index is poised to...