For months we kept asking if the there was a catalyst strong enough, to push the stock market to new highs before the end of 2015. Yesterday we got our answer.
A resounding no. A vicious, bearish reversal gave us reality.
Commodities are weighing too heavy on the market, and the free interest rate ride is over. It’s time the market stands on it’s own two feet. If it can’t, let it fall.
I am not a bear, and don’t want to see a collapse, but it needs to get back to a free market and not one held up by the government. We have climbed out of the financial crisis. Let the stock market do its thing now and stay out of the way.
Stock Market Today: Map of the S&P 500
(click the map for a full view)
Day Trading Game Plan: The SPY ETF Outlook
The $SPY nearly formed a bearish engulfing candle after a FED induced rally. Set to open the $202 support this morning. Tough to short a lower open into support.
(click the chart for a full view)
Pete’s Notes:
- So much for a FED rally.
- Commodities weighing heavy.
- AAPL near $108 support, has a lot of room to go ($95.17) if it breaks.
Technical Analysis | Charts of Interest
HOG is in a solid downtrend for 2015. Key moving averages are in the correct order to trade the short side with conviction. The next target is $41.67.
(click the chart for a full view)
Stock Market Bears Awaken 12-18-15 | Sell the News
> 20sma | positive week | closed 2% higher from the open: TEAM
<20sma, negative last 5 days and closed 2% lower from the open: wmb, aem, clr, sm, etp, fit, nsc, dvn, jwn, oke, lng, m, kmi, bbby, kss, eog, bhi, hog, pxd, pcar, kmx, met, emr, rrc, apc, mbly
Bullish Ideas ATR/Volume/Price: SCTY, VLO, MCD, FB, MA, AMZN, GOOGL, ADBE, TRIP, FSLR, EXPE,
Bearish Ideas ATR/Volume/Price: wmb, clr, sm, etp, fit, dvn, gme, cop, lng, apa, lvs, oxy, uri, eog, pxd, slb, wdc, ua, prgo, rrc, aapl, tgt, apc, hot, mar, cmi, vmw, hca, mmm, cf, hfc, mbly, thc
Weak Stock Weak Close: wmb, clr, sm, etp, fit, nsc, dvn, gme, hal, cop, lng, mos, twtr, m, lvs, oxy, bbby, uri, eog, bhi, hog, slb, pcar, dks, wdc, met, adi, rax, emr, ua, wmt, rrc, aapl, tol, apc, ben, mbly
Strong Stock Weak Close: TRIP, FSLR, STI, ROST, BMY, AVGO, DLTR, ANF,
Weak Stock Strong Close:
Strong Stock Strong Close:
20 day Breakdown: clr, sm, acn, dvn, oke, hal, m, pxd, mur, rrc, apc
20 Day Breakout: SCTY
2x Normal Volume: DVN, ACN, CCE, OKE, SCTY, KMX, GIS, APC, PXD, MBLY
Watch List Longs: MCD, PM, BMY, VLO, JNJ, TRV, INTC, DAL, MSFT, ADBE,
Watch List Short: hal, cop, bhi, slb, met, wmt, axp, akam, ntap, m, lvs, tol,
Inside days: ko, pg, dis, jnj, mbly, cvs, mat, kr, mo, pm, hca, esrx, pep, rai, etfc, nue, wm, psx, ea, mar, hcn, expe, save, ftnt, cyh, bwa, trip