OTC: April 17, 2016 S&P 500/ SPY: The lack of movement after both major indexes rallied last week above the ranges to close out near the highs makes traders long for the days of fed announcements and flash crashes but for anyone invested in what is really a very big bull market threatening to reach the old highs this […]
OTC: April 14, 2016 S&P 500/ SPY: The bank earnings were the focus today and although they were not anything to celebrate the stocks are all about expectations and those were met. This boosted the financials and the SPY saw the follow thru buying that it was set up for on the break out […]
OTC: April 13, 2016 S&P 500/ SPY: A bullish gap up today started overnight with stronger Chinese numbers{I miss China} and this mornings JPM earnings which gave both indexes what they needed to break out from the recent yo-yo inside directionless range. All sectors today were strong and it certainly looks now like the […]
OTC: April 12, 2016 S&P 500/ SPY: The range continues but today’s test of the low and closing towards the high along with oil’s 4% rise gives the bulls the lead as to which direction the next bigger move will be.The strength in oil USO and the corresponding stocks XLE gave the market enough […]
OTC: April 11, 2016 S&P 500/ SPY: Earnings season is once again upon the market and should provide some big moves in individual stocks and hopefully give a feel for the overall condition of the economy as to whether Yellen is right to be cautious and if the stock market is right to be […]
OTC: April 10, 2016 S&P 500/ SPY: Last week saw the S&P down over 1% which in the big picture is nothing and on the chart with the SPY closing everyday around the 204 level it is hard to now have confidence in what the next possible move will be. Traders have been watching […]
OTC: April 7, 2016 S&P 500/ SPY: Yellen now Yen. The same letter was sent to the world that a currency war is not good for risk assets as companies cannot figure their cost of doing business in a global economy with currencies changing percentages everyday based on central banks all trying for for negative […]
OTC: April 6, 2016 S&P 500/ SPY: The market shrugged off yesterday’s small sell off as the SPY was not able to make a new low this morning at the 204 level.The oil USO got some credit for starting the rally today as it climbed over 5% but it was the Biotechnology stocks IBB {see […]
OTC: April 5, 2016 S&P 500/ SPY: The market woke up to a risk off alarm bell today with the Yen FXY{see chart below} breaking out as global growth was once again called into question. Gold GLD rebounded on the money shift away from stocks and that unfortunately bid up both our mining stock shorts of […]
Options Supplement: April 3, 2016 The first trading day of April picked up right where March left off. The S&P 500 and the Nasdaq both started the month comfortably in the green, finishing higher by .6% and .9% respectively. Stocks actually opened in the red following a better than expected jobs number, most likely due […]