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May 1, 2014: SPX treads water ahead of Friday’s Non-Farm Payroll report.

05-02-14 SPX Daily Headline Chart

SPX attempts to extend higher to then stall and end Thursday’s session with marginal losses. This shouldn’t surprise as the outcome to Friday’s Non-Farm Payroll report awaits. The reaction to this report will determine if a potentially negated daily descending trendline is validated or only adjusted. It should go without saying, prudent investors/traders should stand […]

April 30, 2014: SPX tentatively captures overhead resistance, but follow thru higher is required to confirm.

05-01-14 SPX Daily Headline Chart

SPX captures a daily descending trendline but the jury is remains out awaiting the outcome of Friday’s Non-Farm Payroll report. Caution is advised or Thursday trading as prices more will be more random (up/down) and swift as participants jungle positions ahead of Friday’s volatility events.

April 29, 2014: Most market participants remained sidelined awaiting reaction to today’s (Wednesday) FOMC meeting announcement.

04-30-14 SPX Daily Headline Chart

Most market participants remained sidelined awaiting reaction to today’s (Wednesday) FOMC meeting announcement. SPX floated higher but stalled at a defined daily descending trendline. Until this trendline is violated, Sellers remain in control (but tentative control dependent upon reaction to today’s FOMC meeting announcement and Friday’s Non-Farm Payroll report).

April 28, 2014: Both Buyers and Sellers jockey for position ahead of critical volatility events.

04-29-14 SPX Daily Headline Chart

Both Buyers and Sellers jockey for position to start the week ahead of multiple critical economic volatility events (e.g. tomorrow’s FED meeting announcement and Friday’s Non-Farm Payroll report). Monday’s performance did not provide and addition clues and yesterday’s commentary remains relevant.

April 25, 2015: Buyers returned to the sidelines ahead of this week’s multiple known volatility events.

04-28-14 SPX Daily Headline Chart

Buyers returned to the sidelines ahead of this week’s multiple known volatility events. Although end of month’s normally favor Buyers, prudent investors/traders are encouraged to stand aside and wait for better clarity and risk after this week’s Federal Reserve meeting announcement and Friday’s Non-Farm Payroll report reaction. Short term speculative traders may considers extreme short […]

April 17, 2014: SPX extends gains ahead of last week’s Good Friday market holiday.

04-21-14 SPX Daily Headline Chart

SPX extends gains ahead of last week’s Good Friday market holiday. However next week, equities will not have normally bullish seasonality and option expiration related influences to support prices. Headline risk and general market dynamics will likely weigh on prices with a test of new moving average support levels (former resistance) anticipated. The outcome of […]

April 16, 2014: Buyers regain control as Sellers stand aside.

04-17-14 SPX Daily Headline Chart

April 15, 2014: Buyers return and attempt to capture overhead resistance.

04-16-14 SPX Daily Headline Chart

SPX Buyers make a stand and attempt to capture overhead moving average resistance following resolution higher of Monday’s “Inside” pattern. A daily close above a cluster of moving average resistance is imperative for Buyers, otherwise the current rebound is nothing more than a normal oversold bounce.

April 14, 2014: Buyers step up as Sellers stand aside to take a break.

04-15-14 SPX Daily Headline Chart

Sellers take a breather after two successive sessions of blood letting allowing Buyers a chance to recoup some losses. Significant overhead resistance awaits at a cluster of moving averages. The light volume bounce is a concern with follow thru higher required to validate a sustainable rebound. What’s more, resolution of an indecisive “Inside” pattern will […]

April 11, 2014: Sellers smell blood in the water as Buyers are unable to defend important support levels.

04-14-14 SPX Daily Headline Chart

Sellers are relentless as the cascade lower continues. Multiple layers of critical support have been violated with Monthly Implied Volatility Band support a likely target for an inevitable oversold reflex rebound. The quality of the next retrace of the sell-off will determine the direction of the next durable short/intermediate term trend. Looking over the horizon, […]