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Today’s Trading Plan: Central Banks Keep the Market Unmovable

Thursday, October 13, 2016 9:32
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Technical Outlook:

  • S&P 500 (SPX) yesterday managed to bounce following yesterday’s sell-off 
  • SPX has a strong rising trend-line that goes back to the February lows and will be tested at 2139. 
  • A lot of resistance overhead for the market between 2160 and 2190 on SPX. 
  • Volume on SPDRs S&P 500 (SPY) dropped off dramatically yesterday and came in well below recent averages. 
  • CBOE Market Volatility Index (VIX) dropped 4.7% yesterday down to 12.99. The VIX melt continues. 
  • Crude (/CL) rallied hard yesterday, rising 2.3%. Today it is looking at another strong open with a move above the August highs. 
  • The number of stocks trading above their 40-day moving average popped 16% yesterday to 47.7%

My Trades:

Read more…

Ryan Mallory is the co-founder of SharePlanner Inc, a financial website devoted to Day-Trading, Swing-Trading (both long & short) and exchange-traded funds. Ryan makes a strong emphasis on risk mitigation strategies, trading transparency, and trader education – not to mention a great set of stock screens as well.

Be Sure to Check out Ryan’s Site at


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