Market Updates

S&P Daily Pre-Market Prep 17/1/17

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2017-01-17_17-40-08.png

Still moving sideways, so regardless of what is on the rest of the charts, the market is still stick in a narrow range and we are waiting to break that range.

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Very typical of a range week - all the action focused in the middle. I don't see much worth looking at from the weekly volume profile. The value area has held yesterday (holiday) and so far today, so we'll keep an eye on that.
 
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Once again, not much to look at. Obviously, yesterday was very light. I'm still looking at 60-70 as an area to steer clear of.

Plan
- market is still in a tight range but still capable of a decent range
- going to have to be a wait and see day but staying out from 2060-2070
- looking for something off the open and not interested if we have another "hour chop then break" day

Weekly Numbers
Range 2248.50 -> 2275.25
Value 2261 -> 226.50
S1 - 2256, R1 - 2281.50

Daily Numbers
- Not using this today because of the holiday

Settlement - Not using this today because of the holiday

Today only - 2260-2270 (avoid)

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5



 

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Posted by Peter Davies on January 17, 2017
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