Market Updates

S&P Daily Pre-Market Prep 26/1/17

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Onwards and upwards but not a lot of participation. I'd still like to see a pullback to 70 for a more decisive continuation up.

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We are at new prices and apart from the 70 level, I don't see that much of interest below us. Obviously 2300 is a big number, so we need to pay attention there. I'm basically still waiting for participation to come in, so I'm looking for that more than any activity at a specific price level.

Plan
- Waiting for volume to come in and show us what the market wants to do
- obvious places would be 2270 or 2300
- as we are in new territory, I don't think we should take much notice of other prices between those levels - but just go with the volume, if there is any

Weekly Numbers
Range - 2251.75 -> 2299.50
Value 2252 -> 2281.40
S1 - 2255.25, R1 - 2275

Daily Numbers
Range 2274.25 / 2284.25 -> 2299.50
Value 2288 -> 2293
Globex 2291.75 -> 2299.50

Settlement – 2294

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 26, 2017
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