Market Updates

S&P Daily Pre-Market Prep 3/31/16

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2016-03-31_4-43-20.png

A sluggish day yesterday but I'm still biased upside, looking for 2100 and ideally looking for people to come in on a test to the downside.

2016-03-31_4-43-33.png
We have started to build an upper distribution above last weeks value high of 43.50, so I'm watching that on any downside move.

2016-03-31_4-43-49.png

 
And also looking at yesterdays low at 46.75 to hold.

We really need to try to hold onto these gains, if we can, I think people will have more confidence to trade to the upside. If we slip below 43, then I think we could be looking at a test of Tuesdays low at 19.25.

If we discount Tuesday afternoon and the reaction from Yellen's statement, it's been a lackluster week. The upside of breaking yesterdays low is we should see a bit of volatility. So fingers crossed that the employment numbers help us out.

Be aware that it is the last day of the month, so we could get a push up from that today.

Weekly Numbers
Range 2019.25-> 2064.50
Value - 2020.75 -> 2051.75


Daily Numbers
Range 2046.75 / 2051.50 -> 2064.50
Value 2054.75 -> 2060.75
Globex 2047.25 -> 2056.25

Settlement - 2055.25

Today only - 2043.50

Long Term 2100, 1996.75, 1920, 1833.75, 1804.75

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Posted by Peter Davies on March 31, 2016
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