Market Updates

S&P Daily Pre-Market Prep 3/4/16

Share this post:

2016-03-04_4-54-17.png

Bias is long today, looking for more progression to 2000-2006. There's a lot of news at 8:30am, so in absence of that, path of least resistance would be up. So eyes on the numbers and see which way the wind blows after that.

We did get price progression upwards yesterday but only 7 points and volume was down to 1.5m. So I'm still biased long but a bit wary of the reducing volume.


2016-03-04_4-54-35.png

Just like yesterday, the prior days value high has held overnight. Which is good for the upside. We don't have many reference points around other than above us.

So into today - long bias, looking out for any up move off the open and if not, expecting a hold if we move down. Of course, the 8:30am news could pull us out of this out move.
 
Expecting average volume and will be very wary of any move down with high volume.


Weekly Numbers
Range 1920.75 ->1993
Value - 1941.75 -> 1992.75
S1 - 1896.75 R1 - 1978.75

Daily Numbers
Range 1974.75 -> 1991.75
Value 1975.75- > 1985.75
Globex 1987 -> 1993

Settlement - 1983.50
Today only - 1971.25

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

jigsaw.png

 

 

 

Posted by Peter Davies on March 04, 2016
Share this post:

New Blog Website

We have a new blog but it's the same old us, just with a better logo and more resources for you.

CHECK IT OUT

Get the Latest Trading Insights

Popular Posts