We discuss today’s rally and where the market is heading from here. Several key indexes and stocks are trading at or near resistance, indicating a move lower is likely tomorrow. Oil rallied $4.00 to close above $126. We continue to be neutral on oil, not playing it from either side.

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We discuss the pause day in the S&P and the outperformance of the NASDAQ. We identify a beautiful MA pattern on the intraday S&P E-Mini that made for a great short opportunity. We re-examine the possible head and shoulders formation on the NASDAQ. And we analyze a longer term S&P chart that looks to be forming a WV pattern. We are neutral on oil, as it closed lower by $1.37 to settle under $123.

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We discuss the continued weakness in the market as financial fears return to Wall Street. The SPY broke its uptrend channel and closed below its 50-day moving average. LEH closed lower by 9.5% on capital raising concerns. Fed Chairman Ben Bernanke made some bullish comments on the US Dollar, which pressured oil lower by $3.45, to settle at $124.31.

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We discuss today’s sell-off that the charts told us was coming. We are expecting more weakness in the S&P over the next 2 weeks and are preparing to cover our short in oil as it may be setting up for another move higher. We also look at some unhealthy financial stocks that may lead this market lower. And did anyone catch the continued short squeeze in TSO? Up another 11% today!

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We discuss the quiet day in the markets as the S&P sets up for a move lower next week.

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We discuss the continued bounce higher as the S&P pierced its 20-day moving average. We touch on oil ’s weakness and what Doug Kass’ bullish call on the financial sector means to traders.

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We discuss the continued bounce up on light volume that we expected and look at oil’s impressive reversal back above $131.

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We discuss today’s bounce higher after the S&P fell nearly 5% from top to bottom last week. Oil closed lower by $3.34 to settle under $129.

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We discuss the continued sell off in the markets led lower by financial stocks and homebuilders. We explore areas of support and identify where this market might be headed. Weakness in energy names may be signaling a top in oil prices.

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We discuss the pause day in the markets as we head into a 3-day holiday weekend. Oil looks like it may have topped out at $135.09.

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