OTC: January 14, 2016 SPY This is not for the faint of heart as they say.Today we took out the lows and then with a little fed speak and steady oil proceeded to rise 40 S&P points straight up. This type of volatility is the market trying to find its new range and hopefully […]
OTC: January 13, 2016 SPY Today we saw the market open right at the 195 level which has been very clear on the chart as the first big point of resistance and it certainly was as the selling took out the entire rally and made a new low for the move.This type of large movement […]
OTC: January 12, 2016 It was all about oil today as we pointed out last night that seems to control each market swing. The front month oil was able to breach the $30 price today just long enough to take the market down to new intra day lows but as soon as oil closed […]
OTC: January 11, 2016 Your choice if you want to listen to the classic Bowie/Mercury “Under Pressure” while scrolling through charts. “It’s the terror of knowing what this world is about” indeed…great live performance by two wonderful humans. SPY started under great pressure overnight but finished on a stronger note today despite oil USO down another […]
OTC: January 10, 2016 SPY continued to sell off another 1% in front of a take risk off weekend after the worst start to the year for stocks in recent history. The next target still being the August lows of 183-186. The charts of most stocks have the same general look of the […]
OTC: January 7, 2016 The breakdown of SPY 200 level yesterday proved to be the tipping point for a full fledged more panicky type move down and had enough sellers to take out the important 195 level. This leaves the market in no mans land with only the summer lows in focus as the […]
OTC: January 6, 2016 The new years spike low which is usually a bullish signal gave way today as thoughts of a nuclear winter and an ongoing drop for the Chinese currency won out and the SPY closed below range and now has a target of 195 as a first line of support. There […]
OTC: January 5, 2016 The market remained above yesterdays steep selloff low and managed to close higher. The China and Fang stocks selloff had no decent follow thru and a steady day like today will make the bulls feel better about having that low as a new point of reference to trade against using […]
Options Supplement: February 25, 2016 The SPY accomplished today what it had been unable to do since January 6th – close above 195. The market built off of its positive reversal yesterday and took out some substantial overhead resistance late in the day, riding oil, financials and tech higher. The S&P finished up about 1.25% […]
Options Supplement: September 29, 2016 By Daniel Darrow Oil led us higher yesterday and Deutsche Bank fears dragged us down today. The S&P 500 andNasdaq both finished lower by .93% on above average volume, erasing all of the momentum from yesterday’s strong reversal. Averages opened down this morning but weren’t off nearly as much […]