Market gaped higher and trended up until a heavy sell-off on heavy volume begining at 1:20 took price to the opening levels. The ticker then rallied to just above the 870 resistance on less volume than the fall. In the last minutes of the trading day a large profit taking sell-off took place. The close [...]

A slightly upward tight channel developed for most of the day between 835 and the pivot point at 846. In the last half hour of the trading day the price broke upward to close slightly above the 850 key level. Volume was average.
The Beige Book was not terrible. It is expected that JPM will release [...]

The day started gaping up and rallying to the resistance at the 30 day simple moving average (SMA). The resistance was tested twice and the retracement sell off ensued. The day ended in red but almost flat. Volume was high and broke trend. It looks like a normal retracement movement after a large rally. Fibonacci [...]