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

The S&P500 and SPY ETF rallied into the close yesterday, with a short-term bounce off support. RSI was oversold on the 60 minute and shorter time frames. The daily is still suspect as drifts below 50 and not oversold to date.

SPY 60 Minute Chart

RSI is turning higher with price action, with volume picking up as institutions were seen buying the lows late Monday.

Major resistance starts at 331.00 (+/-) depicted with a red horizontal line and shaded zone at (VBP) “Volume by Price” histogram on the left side of the 60-minute chart.

Click to enlarge

Implied 1 Day Move:    1.0%,    33.0 (+/-) pts    Range: 3230.0 | 3296.0

We’re also watching these stocks on the move that populated the MarketSmith on above-average volume scan. These stocks all saw RVOL above 2.0 and higher during Monday trading.

We will consider trades on these candidates if they follow-through on increasing RVOL that mirrors Monday action.

In other news:

Battery Day: CEO Elon Musk has teased major announcements that could be unveiled the company’s flashy battery summit on Tuesday.

Fed speakers today; Charles Evans 10:00 AM Jerome Powell 10:30 AM.

Join us in the trading room for our LIVE 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, 


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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.

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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.