Markets 26 Feb 16

As the intermediate uptrend continues the broader market has cleared the lane to SPX 2000 where buyers and seller will battle it out for overall trend domination. I am looking sell SPX correlated products at SPX 2000 but, until then, adding to upside entries.

SPX Daily

Expect a challenge to the overall downtrend if SPX 2000 turns out not to be an ambush for buyers. Price closing in on SPX 2130 will hint a resumption of the broad market uptrend.

Happy trading.

Market followup 24 Feb 2016

Although nothing has happened to change the overall downtrend of markets, today provided a massive upside trading opportunity for those with the knowledge to catch it.

S&P Futures 5m 

Nailing moves like this, in the face of overwhelming negative market commentary, truly distinguishes the pros from the majority of industry noise makers.

Midweek Snapshot 24 Feb 2016

So far price action this week has been a lesson for buyers on why not to load up into resistance levels in down markets.

SPX 60M

Although, on Monday, I was looking for a breakout and daily close above 1950 on the SPX I was also very clear no buy orders should be placed until then, upon which a confirmation entry should be used to enter long.

"The question is less 'will price break above 1950' but 'will price allow a safe confirmation entry to buy between today's open and SPX 2000?" -22 Feb 2016

Monday and Tuesday were reminders of how we cannot ignore the weakness of markets which will continue, I expect, unless asset prices decouple from the economy and rally on the desperation of Fed monetary policy.

Markets 22 - 26 Feb 2016

Those with a strong sell bias, who didn't get slapped around hard enough by last week's price action, are waking up this pre-market Monday with some issues to face.

SPX Daily

Considering market confidence buying into Friday's close (last candle on the right) the question, as price presents itself on the above chart, becomes less 'will price break above 1950' but 'will price allow a safe confirmation entry to buy between today's open and SPX 2000?'

VIX Daily

Adding to the stress level of undaunted shorts is the VIX where we see Friday's price slamming into daily support with no buyers, as puts deleverage from the scene, and approach the Fed's "whew!" VIX numbers: teens.

DXY Daily

 What upward markets have yet to reconcile is continued USD strength. Another topic for a future article.

Happy trading.