Market Updates

S&P Daily Pre-Market Prep 6/2/16

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Market is still undecided. Volume declined yesterday to just under 1.3M. Like Tuesday, the first 30 minutes was quite dull too.

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I still have an eye on the 82.50 level. The low of the upper distribution from last week. We are building an evenly distributed profile and as such.

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There's really not much to say about this. Yesterday we traded around the overnight range. Overnight last night, we've stayed in yesterdays value area. So we have indecision but decent range for the past 2 days.

Value remains largely unchanged too.

Plan
- If we get low participation from the open, let the volume profile build first and scalp off the edges until the range breaks
- look to fade yesterdays extreme/value area on average volume
- follow breaks on high volume
- look to trade size on a breakdown of 82.50 (targeting 55)

Weekly Numbers
Range 2083.25 -> 2103.75
Value - 2093 -> 2102.50
S1 - 2061.50, R1 - 2115.50


Daily Numbers
Range 2091.25 -> 2099.25
Value 2090.50-> 2098
Globex 2088.50 -> 2098.25

Settlement - 2098

Today only - 2082.50

Long Term 2105.25, 2100, 1996.75, 1920, 1833.75, 1804.75

 

 

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Posted by Peter Davies on June 02, 2016
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