Swing High » SPY

Broad Market and Relative Strength Review 8/25/10

Jason B Gordon — Wed, 25 Aug 2010 16:44:50 +0000

Hello Traders! I am glad to be back after months of sitting on my hands. I am still sitting on them, but I am here to review the markets while I wait. While the market figures out which direction it wants to go, I be here trying to predict its decision. Stay with me… things could get very interesting again in the markets, perhaps soon.

Click here to view the embedded video.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Happy Trading,

Jason

Tweet This Post

How right was I?

Jason B Gordon — Fri, 26 Mar 2010 17:40:13 +0000

If you recall this post, I stated that we had put in a swing low that would last for a while. Well, I could not have been more right. Since I made that call, the S&P has risen 9.3%! During this most recent up leg, I made many successful trades to the long side (CAGC for example). Unfortunately, my stop on UPRO was a bit too tight, so I missed out on 30%+ run.

I love technical analysis!

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Wednesday February 24

Jason B Gordon — Wed, 24 Feb 2010 21:12:00 +0000

After a weekend in Toronto, I am struggling to catch up with everything. Please be patient with me as daily updates are becoming more and more difficult to produce. I may consider updating once a week instead, but that thought just came to mind so I cannot say for sure just yet.

As for the markets today, they certainly showed strength. The VIX dropped 5% and the TICK and TRIN corroborated the move higher. The S&P 500 put in an inside trading day today and looks like it will begin chopping sideways for some time.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Monday February 22

Jason B Gordon — Mon, 22 Feb 2010 21:33:00 +0000

The markets finished flat today after a relatively range bound trading session. The Financials (XLF) were the big winners today, and the Russell 2000 (IWM) also showed relative strength, which is a bullish sign. The market internals (TICK, TRIN, and VIX) all corroborated the indecisive action in stocks today.

SPY closed at support at the 50 day moving average and the 111 mark. 111.5 has proven to be significant resistance as SPY has been unable to break above it the past two sessions. On the daily chart of SPY we can see a bull flag break out and a solid run, but it was on low volume and appears to be slowing down now. Either way, it is extended at this point and I do not see a reason to enter long here. I will wait for a pull back, consolidation, or some other pattern to set up before picking up new positions.

It looks like my bullish call on UPRO on February 5 was dead right. If I did not get stopped out, I would have caught a healthy 17 point move. Right now am I analyzing why I got stopped out where I did and re-thinking the appropriateness of the stop loss I chose.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Tuesday February 16

Jason B Gordon — Tue, 16 Feb 2010 21:25:55 +0000

Bullish move in the markets today. The VIX did not confirm very well, but the TRIN and TRIN/Q were very strong. Volume was also light today. Commodities and earnings pushed stocks higher, while the dollar dropped.

Thanks for being a part of Swing-High.com! I am sorry for the rushed post, but I have a tight schedule right now. Please be patient as next Wednesday might be the next post. I am going to Toronto this weekend to compete in the 2010 Rotman International Trading Competition for Penn State. As soon as I get home I have 4 tests to make up, so I will be very busy this week. Thank you for understanding… Stay tuned!

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Friday February 12

Jason B Gordon — Fri, 12 Feb 2010 21:18:26 +0000

The markets gapped down this morning and spent much of the day recovering. Our support/resistance lines drawn in at 107.2 and 108 on SPY worked very nicely today. Ultimately, we have an inside trading day on SPY and a relatively weak breakout of the bull flag formation on the daily chart. The VIX did drop today which adds some validity to the rally. The TRIN was bearish while the TRIN/Q read bullish. The TICK and TICK/Q both corroborated today’s action. Note the Russell 2000 (IWM) showed relative strength today.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Halftime Report, Thursday February 11

Jason B Gordon — Thu, 11 Feb 2010 19:01:26 +0000

Stocks are rising today on better news out of Greece. Most of the major indexes are up about 1% so far. The VIX is down over 4.5%. The TRIN is neutral, which means stocks can break in either direction with relative ease. The TICK is bullish.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Wednesday February 10

Jason B Gordon — Wed, 10 Feb 2010 21:26:29 +0000

The broad market indexes finished the day with mixed results. The S&P 500 (SPY), Dow Jones Industrial Average (DIA), and Nasdaq (QQQQ) all finished lower by about .2%. The Financials (XLF) showed significant relative strength, closing up 1%. The Russell 2000 (IWM) finished fractionally higher to flat.

The market internals gave mixed readings, which is expected on a sideways day. The TRIN was bearish today. The TRIN/Q was mostly bullish. The TICK and TICK/Q corroborated the intraday action. Finally, the VIX dropped nearly 3%, but is holding up over 25.

On the daily chart of SPY we have a lower high and a lower low. Today’s candle is also a doji. The upper shaddow of today’s candle hit resistance at the upper trendline of the down channel. From here I expect a lower swing low, but none of the signals I am seeing are terribly decisive. Volume was also relatively normal today.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Tuesday February 9

Jason B Gordon — Tue, 09 Feb 2010 21:36:38 +0000

Stocks rallied across the board today. The VIX only dropped about 2%, while the major indexes rose by 1% or more. I would have liked to see the VIX down at least 3% today in order to confirm the move in the broad market. The TRIN and TRIN/Q were both in bullish territory (under .8), indicating that more volume was flowing into stocks on the rise rather than stocks on the decline. The TICK and TICK/Q, though mostly used by day traders, corroborated the intraday actions nicely.

The S&P 500 (SPY) now has a confirmed swing low in place and a potential reversal pattern setting up on the daily chart. Today’s candle is a doji at the top of an up leg which could be a reversal pending a close below today’s lows at the end of tomorrow’s trading session. The upper shadow of today’s candle tagged 108 and the top of the downward channel which acted as strong resistance, sending prices back down. In order to continue being bullish, SPY needs to break above the upper line of the channel and the 108 mark. Otherwise, we may see a lower swing high and continuation to the downside.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post

Post Market Analysis, Monday February 8

Jason B Gordon — Mon, 08 Feb 2010 21:36:16 +0000

The markets sold off on light volume today. The Dow Jones Industrial Average (DIA), Russell 2000 (IWM), Financials (XLF), and Nasdaq (QQQQ) all showed relative weakness to the S&P 500 (SPY) today. The VIX only rose 1.5%, which is not really enough to confirm the move lower. The TRIN and TRIN/Q both finished the day in bearish territory, indicating more volume flowing into stocks on the decline than stocks on the rise. That is a bearish sign. The TICK and TICK/Q were fairly neutral with some bearish bias, especially into the close.

On the daily chart of SPY we made a higher high and a higher low today, which is technically bullish, but in reality, today’s move was a little more bearish than bullish. We really need to see a close higher than today’s highs in order to mark a swing low here.

There are a bunch of potentially market moving earnings reports coming out before tomorrow’s trading session, so keep your eye out for any big surprises there. There are also some minor economic reports coming out tomorrow, but they are not heavy hitters. Wednesday, Thursday and Friday are going to be big days in terms of economic reports that have the potential to really move the markets. Keep your eye on the economic calender as well as earnings dates for particular stocks you might be trading/watching.

Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Click here to view the embedded video.

Happy Trading,

Jason

Tweet This Post