Market Updates

S&P Daily Pre-Market Prep 2/18/16

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2016-02-18_6-29-34.jpg

A simple day today. We've hit the top of the range, so now we are waiting to see if we can break the range or head back down to 1800. .

2016-02-18_6-29-51.jpg

From a weekly profile perspective it looks like we should get acceleration to the downside if we break 1915.

 2016-02-18_6-29-58.jpg

 

Not much to say based on the daily profiles other than confirming potential support at 1915 and acceleration below.

Safest bet today is to wait for this area to be resolved and then get in. There tends to be a lot of pushing and pulling in major areas like this and there's a lot of false signals. When it breaks - stops get triggered and jumping on is easier.

Weekly Numbers
Range 1865 ->1933.50
Value - 1866.50 -> 1901
S1 - 1812.75 R1 - 1894.75

Daily Numbers
Range 1881.50 / 1904 -> 1927.50
Value 1916.50 >-> 1924.50
Globex 1916.75-> 1933.50

Settlement - 1922.75
Today only - 1915

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

 jigsaw.png

 

 

Posted by Peter Davies on February 18, 2016
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