Blog
August 3, 2019
It was a move we’ve been portending for a while and the bears finally took control this past week as the combined volatility from AAPL’s earnings, an FOMC announcement, a Trump tweet, and the start of a new month allowed sellers to finally break the multi-week long bullish move that began back at the beginning of June. Earnings will be the primary news driver this week however there has been sufficient technical damage done that we can expect to see additional downside volatility. In this week’s video, we look at the technical outlook for the VXXB SPY QQQ IWM DIA […]
July 31, 2019
Mid-week market update as trends have started to shift and sellers have finally wrested the upside momentum. As we enter into the first trading day of August pay close attention to see if the indices can continue to trade above the quarterly open.
July 29, 2019
I’ll keep this post brief but it’s been a while since I updated the chart of the SPY overlayed with S1FI (number of S&P100 stocks above their 50 day MA). We’re now seeing a bearish divergence between the # of S&P 100 stocks above their 50 day MA while the SPY tags all-time highs. No actionable signal yet but with the end of the month approaching it will pay to keep your attention on whether or not the buyers can continue to defend each prior week’s lows.
July 28, 2019
Sign up to our newsletter and be the first to receive the Weekly Perspectives newsletter delivered directly to your email inbox. I am back from Ft. Lauderdale, FL for a few days before leaving to Playa del Carmen, MX at the end of the week. If you ever find yourself in Ft. Lauderdale, do yourself a favor and check out Shooters Waterfront for some great drinks and seafood. Here’s to enjoying the rest of the summer and depending on the internet at the resort I hope to be able to deliver next week’s Weekly newsletter to you at the regularly scheduled […]
July 27, 2019
Buyers once again took control this past week and pushed the SPY and QQQ to all-time highs. As we’ve been noting on the weekly charts on SPY, QQQ, and DIA the buyers continue their dominance – when will the sellers be able to create a new weekly low? This coming week marks the final trading week of July and the beginning of August so we’ll want to pay close attention to see how price trades around the monthly open. Plenty of macro news and earnings on tap but AAPL’s earnings on Tuesday and Wednesday’s FOMC will be front in center […]
July 21, 2019
Sign up to our newsletter and be the first to receive the Weekly Perspectives newsletter delivered directly to your email inbox. As we enter into the lazy dog days of summer I’m enjoying a couple of weeks of sun-soaked R&R in Ft. Lauderdale, FL. Here’s to the trader life and appreciating the weekly chart review process beside the pool. Now in case you missed it, this week sellers pulled the indices back this week as earnings were front and center on the minds of traders and investors. Less than spectacular results from the financials (C), transports (CSX), and tech (NFLX) allowed the […]
July 21, 2019
Sellers pulled the indices back this week as earnings were front and center on the minds of traders and investors. Less than spectacular results from the financials (C), transports (CSX), and tech (NFLX) allowed the sellers to finally have a winning week with the VXX logging its first green week in 6 weeks. Next week has a plethora of earnings so be sure to check the earnings calendar. This coming week we want to watch and see if sellers can continue their control by taking out this week’s lows which could possibly shift price the major timeframes to align to […]
July 13, 2019
This week the SPY, QQQ, and DIA continued to log in all-time highs as market participants were pleased with what they heard out of the Fed and the potential for further rate cuts. The VXX continued to melt like an ice cube sitting outside in the summer hitting all-time lows. Looking at VIX futures contract shows an outside bar on the weekly chart with the potential now to go after April’s lows. As I stated in last week’s video the momentum continues to be to the upside on the SPY, QQQ, and DIA so sellers have the large task of […]
July 6, 2019
In case you missed it – this week marked the start to the new week, month, and quarter and the SPY, QQQ, and DIA all hit all-time highs. For the 4th straight week momentum for the SPY, QQQ, and DIA continues to be to the upside so sellers have the large task of trying to take out the prior week’s lows before we see momentum waning. The long bond gave a false sell signal earlier in the week just to end the week with a large outside bar. GLD took a breather for the week and we’ll want to see […]
June 30, 2019
The first half of the trading year is now in the books. The SPY, QQQ, and DIA closed out the quarter with an inside week. Sellers had their opportunity to drag the indices down but by mid-week, the downside momentum had waned and buyers held strong to close out the week on a strong note and melting VXX back into its previous all-time lows. This week begins the start of Q3 and we’ll want to be paying attention to see how price trades around that weekly/monthly/quarterly open. In this week’s video, we look at the technical outlook for the VXXB […]