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...
The Outlook Monday was almost a non-event day with no real action and low volume. With so many investors away to watch the solar eclipse on Monday, volumes were very low. On Tuesday we should see this change back to a more normal market. Oil Prices Heading To $100? More and more analysts are climbing aboard the oil band wagon and announcing they...
The Outlook Friday's massive recovery rally set stocks up to try to push higher for the start of the second week of April. We will see some dips today but these dips are opportunities for setting up trades. The day will lend higher. Correction Coming After last week's drop on Tuesday and Thursday, analysts are increasing their call for a large...