Futures are down this morning, following Asia and Europe, as
Flop Like Its Friday
This morning, like yesterday morning, was off to another great start for the bulls. Stocks were soaring and seemingly every stock was up 2% or 3%. You know the market is roaring when even $GOOGL/$GOOG is up over 1.5%. And then the market started to pull back around lunchtime stock futures started to look decidedly bearish. Just like yesterdays pre-market
Breakout/Breakdown Coming Very Soon for S&P 500
For the last few weeks the market has been range bound with a slight negative bias. We are currently sitting in-between the 50dma and the 100dma, but more importantly we are only $7 above the 200dma. With the VIX at 20, I believe that we are heading for a breakdown, probably on the heels of either inaction on the part of central banks, a further breakdown in oil, or weak earnings. There are a few technical signs that point to a bigger breakdown. First of which is a head and shoulders pattern.
January 13th, 2015 Watch List
Tuesday Morning Reads
Mondays in 2015 thus far have proven to be terrible days for the stock market. Stocks started yesterdays session higher, but quickly those gains evaporated and the market closed sharply lower. Today stock futures have reversed course with the market again set to open higher. Will these gains hold?
Here is what I am reading this morning: