Market Updates

S&P Daily Pre-Market Prep 5/26/16

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A simple day today. Or rather a simple premise. Now we are at the top of the range, we are looking for activity at the top that tells us if we are going to roll over or make new highs. So looking for headfakes above 2100 and for acceleration below yesterdays low. 

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Not much on this weeks profile other than the lack of volume traded below 2070, so if we get there, we should reach 2058 easily.

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We've spend the overnight session within yesterdays range but we spent most of yesterday above 2086. So I'll be watching 2086 too.

Plan
- Holiday tomorrow, overnight volume is low, so not expecting much
- eyes on yesterdays range, looking for sellers to come in at either yesterdays high or a break of 2086 from above
- cautious of any moves up, 2100 will be a busy area, so no trades around there. Longs on a hold of 2086/yesterdays low
- The key today is to try and get positioned long before it breaks yesterdays high.

Weekly Numbers
Range 2041.25 -> 2092.50
Value - 2041.50 -> 2082.50
S1 - 2025, R1 - 2071.50

Daily Numbers
Range 2073.50 / 2080.75 -> 2092.50
Value 2086.50 -> 2091
Globex 2082.50 -> 2091

Today only - 2086

Settlement - 2087.25

Long Term 2100, 1996.75, 1920, 1833.75, 1804.75

 

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Posted by Peter Davies on May 26, 2016
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