Market Updates

S&P 500 Daily Pre-Market Prep 2/4/16

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We were looking at 1866 for a buy yesterday and we go to 1865 before turning up.

This is a very indecisive market - so trying to predict scenarios here is a bit tough.

I'm still of the overall opinion:
--> 1866 is an area to look for buyers
--> 1929 is a potential hurdle above - so participation after a hold or a break is OK
--> 1900 and above is a good buy

 

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As we can see, we got down to the low of the distribution from last week. We just need to see some follow through now and stay above the 1929 level.

 

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Not much to say based on the daily profile - it's all about the levels above.

Weekly Numbers
Range 1865.50 -> 1940
Value - 1896.75 -> 1929.25
S1 - 1885.50, R1 - 1954

Daily Numbers
Range 1865.50-> 1912.25
Value 1871.75 -> 1898.25
Globex 1906 -> 1922.25

Today only 1866, 1900

Settlement - 1908.50

Long Term 2109.25, 2006, 1929.25, 1843, 1814, 1773.75

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Posted by Peter Davies on February 04, 2016
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