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Post Market Analysis, Thursday November 19: Bearish
The markets sold off hard this morning, but calmed down and chopped higher into the close. SPY is still below that key resistance line at 110. The VIX finished up about 4.5%, retracing from its intraday high of up over 10% early in the session. The TICK drifted back towards neutral to close out the session. The TRIN stayed very bearish all day. The Dollar was strong today, which helped push stocks lower.
There are no economic reports scheduled to be announced tomorrow. However, tomorrow is options expiration day, so the markets can do some pretty wild things tomorrow. We could very well gap up and re-test the highs for 2009 tomorrow. You never know...
Also, look out for how Dell's earnings affect the markets tomorrow morning. DELL is down hard after hours.
video
I added to short positions today, but will lighten up on those positions if the markets show serious strength tomorrow. I will not be able to do the Halftime Report or the Post Market Analysis tomorrow because I will be traveling to and playing in a racquetball tournament this weekend. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Post Market Analysis, Thursday November 19: Bearish
The markets sold off hard this morning, but calmed down and chopped higher into the close. SPY is still below that key resistance line at 110. The VIX finished up about 4.5%, retracing from its intraday high of up over 10% early in the session. The TICK drifted back towards neutral to close out the session. The TRIN stayed very bearish all day. The Dollar was strong today, which helped push stocks lower.
There are no economic reports scheduled to be announced tomorrow. However, tomorrow is options expiration day, so the markets can do some pretty wild things tomorrow. We could very well gap up and re-test the highs for 2009 tomorrow. You never know...
Also, look out for how Dell's earnings affect the markets tomorrow morning. DELL is down hard after hours.
video
I added to short positions today, but will lighten up on those positions if the markets show serious strength tomorrow. I will not be able to do the Halftime Report or the Post Market Analysis tomorrow because I will be traveling to and playing in a racquetball tournament this weekend. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Halftime Report, Thursday November 19: Very Bearish
SPY cut through some crucial support at 110. If the markets can hold these low levels, expect a down leg to start here. One thing I forgot to mention is that the dollar is showing strength today, which fits with the inverse correlation theory we have seen for most of this year.
video
I added to my short positions when the markets shattered support this morning. I will hold them for the down leg if it happens. Otherwise, I will lighten up on my shorts if SPY breaks back above 110. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Jason
Halftime Report, Thursday November 19: Very Bearish
SPY cut through some crucial support at 110. If the markets can hold these low levels, expect a down leg to start here. One thing I forgot to mention is that the dollar is showing strength today, which fits with the inverse correlation theory we have seen for most of this year.
video
I added to my short positions when the markets shattered support this morning. I will hold them for the down leg if it happens. Otherwise, I will lighten up on my shorts if SPY breaks back above 110. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Jason
Halftime Report, Wednesday November 18: Consolidation
Intraday, SPY tested support at 111, but is holding above that support right now. Expect major resistance at 111.69 to the upside. Also anticipate fining support at 111 and 110.3 with the next major support area at 110.
video
I did not make any trades today as I am waiting for this consolidation phase to resolve in one direction or the other. Also, I will not be making the Post Market Analysis tonight because I will be traveling home for Thanksgiving break.
I just found out that I placed second in the Smeal Trading Competition that I participated in last Thursday. That means I will be going to Toronto to compete on behalf of Penn State. I'm pretty excited about that... not gonna lie. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Jason
Halftime Report, Wednesday November 18: Consolidation
Intraday, SPY tested support at 111, but is holding above that support right now. Expect major resistance at 111.69 to the upside. Also anticipate fining support at 111 and 110.3 with the next major support area at 110.
video
I did not make any trades today as I am waiting for this consolidation phase to resolve in one direction or the other. Also, I will not be making the Post Market Analysis tonight because I will be traveling home for Thanksgiving break.
I just found out that I placed second in the Smeal Trading Competition that I participated in last Thursday. That means I will be going to Toronto to compete on behalf of Penn State. I'm pretty excited about that... not gonna lie. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
Happy Trading,
Jason