Bears Snatch Weekly Win From Bulls 8:00am (EST) The market showed some strength shortly after a lower open on Friday following news the trade front with the EU, Mexico and Canada is easing with the U.S. set to remove steel and aluminum tariffs on Canada and Mexico. However, weakness returned late in the session following […]
Author Archives: Rick Rouse
The Financial Select Sector Spiders (XLF) are trying to build a base of support above the 50-day moving average with Friday’s low tapping $26.75. A close below this level could lead to another backtest towards $26.50-$26.25 and the 200-day moving average. Near-term and current resistance is at $27-$27.25. Continued closes above the $27.50 level would […]
The S&P 500 Volatility Index ($VIX) traded to a morning peak of 16.81 with resistance at 16.50-17 getting split and the 200-day moving average holding. A close back above the 17.50 level would be another warning signal for the market with risk towards 20-20.50. Support remains at 15-14.50 with a close below the latter and […]
The PowerShares QQQ (QQQ) was down for a 2nd-straight session after tapping a low of $170.16. Near-term support at $170-$169.50 held with the close back below the 200-day moving average being a slightly bearish signal. A move below $168 will likely signal a near-term top. Lowered resistance is at $172.75-$173.25 with additional hurdles at $175-$175.50. […]
NextOptions.com Index and Earnings Options Play List for 8/16/2018 Major Support Levels in Play 8:00am (EST) The market was weak throughout Wednesday’s session following Turkey’s implementation of taxes on American goods from cars to tobacco. Turkey continues to blame the U.S. for its economic woes and imposed retaliatory tariffs on U.S. products after the White […]
NextOptions.com Index and Earnings Options Play List for 7/31/2018 Nasdaq Closes Below 50-Day MA/ Trade Alert (PGNX) 8:00am (EST) The market showed some strength on Monday’s open but spent most of the session in negative territory as Wall Syreet prepares for the Fed. The Nasdaq was the weakest of the indexes, falling more than 1% […]