Market Updates

S&P Daily Pre-Market Prep 12/1/16

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2016-12-01_17-42-45.jpg

We've popped the top and the bottom of the weeks range, so that leaves us still neutral. Volume was up yesterday and it was a down day overall, so it is worth looking for weakness off the open.

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Same deal on the weekly profile - just showing range expansion and not much else.
 
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The dailies do look more bearish but then again, we most likely looked bullish when we popped the top of the range.

Plan
- Neutral bias, although we are at the bottom of the range after a similar sized probe down to the probe through the top (as of now, the probe through the top was still larger)
- So off the open looking at the 2190-2194 area as a decision point and looking to go with a trade away from their in either direction. That of course may already be in progresss

Weekly Numbers
Range 2194.25 -> 2213.75
Value 2200-> 2207.75

Daily Numbers
Range 2197.75 -> 2213 / 2213.75
Value 2200 -> 2208.25
Globex 2194.25 -> 2201.75

Settlement – 2198.75

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

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Posted by Peter Davies on December 01, 2016
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