Market Updates

S&P Daily Pre-Market Prep 2/25/16

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2016-02-25_3-29-20.png

We got a nice run down yesterday but still couldn't hold it, so we are back up to the top and the area of indecision. We did get decent volume on the way back up and we need to see if buyers follow through again today. I can't go into today with any bias though.

 

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We can see the range within the range here. It's hard to trust any move in my opinion. If we could go through the range high, come back and test it and find support, it would be an interesting long.

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Yesterday highlights what a schizophrenic market it is right now. As it is, I think the game is just play the volatility and not married to a bias on either side. We settled on Wednesday at around 36 and yesterday - after all that movement, settled just 6 points lower.

Any move to the highs of the week I'll be wary of but otherwise, I'll try to follow the volume and be wary that we don't seem to have much overall direction and that could cause a reversal pretty much anywhere.

Weekly Numbers
Range 1886.75 ->1943.75
Value - 1914.75 -> 1940
S1 - 1880.75 R1 - 1937.75

Daily Numbers
Range 1886.75 -> 1931.25
Value 1987.75 - > 1914.75
Globex 1920.25 -> 1938.50

Settlement - 1930.25

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

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Posted by Peter Davies on February 25, 2016
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