The Closing Print live trading and financial blog during market hours.

Markets Remain in a Range as SPX (SPY) Pulls Back 3% on Tuesday

SPY daily dropped back below the 200d on Tuesday, as a range prints on the ETF. ALGOS accelerated once this key moving average was lost; SPX, NDX, IWM all reversed from what appeared to be a decent rally from November lows. At that time institutions began picking up shares at the reversal on Friday the 23rd. Now SPY remains in a range, where cash is king.

SPY Renko Range Bound

Renko printed a red brick on Tuesday, captive to the range that started in January.


Renko 12-06-2018


SPY Daily – Where Are Institutions?

A week ago Wednesday, NYSE Up Down volume registered a +8.55:1 Up Volume day which many took as sign institutions were buying. This Major Accumulation Day (+9:1) was confirmed with a turn in TICK cumulative.


SPY Daily 12-06-2018


TICK cumulative is flat and neutral to start the morning session, with price action set to test the recent lows at 263.00 (+/-).

We’ll stick with our winners and watch for the cavalry to show up. In addition, we will watch the market movers and most actives for potential day trades. Shorts on the weakest stocks have worked best.

Bottom line, we will refrain from making emotional decisions as the markets test our will and strategies. Hedging with bonds, or reverse index products can help you sleep at night; consider SQQQ, SDOW, and SPXU for these purposes.

Join us during our LIVESTREAM broadcast during market hours. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,




Disclaimer:  Do your Own Research

Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advise” to enter any particular position or asset.

Investment Warnings

We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.

Live Sessions

Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned. 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities. 

As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.