Posts by Evan Medeiros

Trading the election results

overall market outlook, gap analysis, trade expectations Futures are all over the place, ping-ponging back and fourth between cash SPX 1410-1425 ($SPY 141.6 and 143). As a day trader I am looking for opportunity, in any direction. My instinct is to be more long with a 1410 open and short bias if we opened towards…

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Election day–all is quiet on the market front

overall market outlook, gap analysis, trade expectations Yesterday we saw sellers auction price down to the previous major support zone around 141. That level proved to have value as buyers supported that area and closed us on the highs of the day. I am not expecting fireworks today, given we will not have the election…

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Bulls break us out!

overall market outlook, gap analysis, trade expectations Yesterday we saw a breakout to the upside, with conviction. We broke through the 142.2 previous multiday resistance and never looked back. Coming into today we are seeing gap up follow through and I am in a clear ‘look for long setups’ mode. Coming into the day completely…

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Cash Market Trading Resumes!

overall market outlook, gap analysis, trade expectations After a weekend and 2 closed days for the cash markets we’re gapping up into the upper end of our trading range we have been carving out in the SP500 for the past 4 trading sessions. My outlook has not changed, until we see a definitive break of…

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$AAPL uncertainty out of the way – time to resolve this range?

overall market outlook, gap analysis, trade expectations Overall yesterday we had some weak market price action. The opening prices were the highs and the market saw continued selling all the way back down to gap fill and once again bang against the 140.80 lows. We are still holding this recent critical zone of 140.8-141 but…

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Bulls time to shine – I am not a believer

overall market outlook, gap analysis, trade expectations Coming into today bulls are getting their chance to take the baton and run this market higher. We had a real negative looking close yesterday however the bulls case is such that we put in an intermediate term double bottom and it is time to see what kind…

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Quiet Two Way Action

overall market outlook, gap analysis, trade expectations I expect the market to see some two way trading today. The close at the midpoint of yesterdays range suggests indecision and lack of commitment by both the bulls and the bears. I believe it will be a relatively quiet and choppy session as we digest yesterdays sell…

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Market Weakness

overall market outlook, gap-up analysis, trade expectations I expect the market to see some early weakness after the drip lower into the close yesterday. We have had a nice run but we can expect some digestion either by price or through time. Look for stocks to find some support, do not initiate long positions until…

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