Tag Archives: spy

Thursday Recap

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After yesterday's sharp sell-off stocks stabilized today and rallied to close near session highs.  2015 has been a 'spin your tires in the mud' affair.  Would it be any more appropriate if tomorrow's jobs reports sparks a rally back to Monday's levels?

Bonds remain a volatile trade with $TLT dropping to its lowest level of the year before mounting a furious recovery rally.  The 20 year bond etf now sits right at long term support.  Tomorrow's jobs report is likely to push it one way or the other into the summer.

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Friday Focus – Strong End to the ‘Weak’

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While a strong end to the week couldn't get stocks back to the levels it started the week at,  the new month is off to a great start.    Yesterdays nasty sell-off was swiftly reversed.  We've seen this story many times over the last six plus years with each ending to the story leaving the bears in tears and the bulls rejoicing record highs.

If you didn't read last nights recap, you wouldn't have seen this:

"S&P 500 bounced off medium term trendline support.  We may have seen the low today of this pull back from record highs."

Yesterday the bears were out celebrating the end to an incredible 6 year bull market.  Shorting every rip.  Selling any and every rally..... and today?  Gone.  No where to be seen.  A face rip reversal can be quite effective, and that is exactly what we got from yesterdays lows to today's highs.  A 'shut the bear up reversal'.

One mans 'short of the century' is another man's consolidation.  2015 remains a tough slog with big gains getting reversed and vice versa.  However stocks are higher and the trend remains up.

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Short and Sweet

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Almost a full four months into 2015 and the S&P 500 has yet to make a meaningful move to the upside.  We currently reside at similar levels from the end of 2014.  Imagine that.  Four months of consolidation.

Prices have started to narrow and I think a big break higher is becoming more likely with each passing day.

One thing is for certain... the Dip Buyers remain on the ready to gobble up any dip this market gives.  Today was no different.

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Coming Together

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This morning stocks gave up their early gains and looked poised to fulfill that correction scenario everyone seems to think is coming.  Let's not get into the reasons, because we know its a lot easier to give a reason for stocks stocks to fall, after they fall, than it is to actually position for a fall because of said excuse.  Monday Morning QB's don't have an off season in the stock market.  Just ask those bears who were already penning their 150th "yeah I nailed this downside" blog post this morning as stocks reversed lower.

Yet again morning market weakness was just another opportunity for dip buyers, corporations, Central Banks, and/or the Plunge Protection team, depending on what disgruntled bear you ask......, to buy stocks at cheaper prices.  Since 2009 each dip has worked out tremendously well for the dip buyers, and I didn't think this morning's dip will be any different.  Even better I didn't give up today, I remained patient, and the market kindly cooperated.  Everything came together.

Bonds fell off a cliff.

Anyone reading last nights update saw the looming overhead resistance.  A level $TLT just could not break.  Today buyers left and bonds collapsed.

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