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

Monday was a wakeup call to bulls who sometimes get complacent, despite the S&P500 and SPY reluctance to close below the key 9/21d moving averages. Until SPY closes below the 21d we DO NOT have a sell signal. Monday’s test of the 9ema (closed above) was a caution signal. We hedged and will likely reduce said hedges should the market rally today.

SPY Daily

RSI is above 50. MACD is above its signal line and zero. VBP (left panel) is major support. A pullback below the 21d is a sell signal, thus no sell signal, only a caution signal as price action rebounded off the 9ema.

Be alarmed if price closes below the 9ema today after banks report. WFC already posted ugly numbers. So, we still have JPM, MS, BAC, GS, and PNC.

Consumer Discretionary XLY

XLY made a new high. It’s leading.

And, if Consumer Discretionary (XLY) outperforms the Consumer Staples (XLP) sector it tells investors that institutions are not positioning for a pullback. They aren’t buying defensive stocks.

This ratio can change in a week or two, so watch XLP and XLY.

Futures are green at the moment, (+9.50) 3158.00 though off the highs printed at 7:30 AM, 3164.00. Wait until 10 AM for a clear read of the market.

Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading, 


Want to become a member? Check details here:

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 “advice” 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.