Market Updates

S&P Daily Pre-Market Prep 8/1/16

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No surprises on Friday but on Sunday evening, we managed to finally break out of the range. Of course, that's overnight and we need to hold this in the day session today.

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So today we should look back at last week and we can see that anywhere from last weeks high down to around 2168 which is the high of where most of the volume traded last week.

If we start trading down through 2168, then we'll most likely revert back to rangebound behavior a slip back into last weeks action.
 
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An eye also on Fridays value area too today.

Plan
- Today is all about whether we can keep the new highs made overnight and possibly push upwards some more
- Look for a pullback to last weeks high/2168 and for volume to come in if it holds
- if 2168 breaks, then expect a repetition of last weeks action
- If we move up from the open with no test, be patient as it may take time for buyers to commit

Weekly Numbers
Range 2152–> 2172.50
Value 2159 -> 2167.50
S1 – 2156, R1 – 2176.50

Daily Numbers
Range 2157.50 -> 2171.75
Value 2164.75 -> 2171.25
Globex 2170-> 2177.75

Settlement – 2168.25

Key Levels: 2110.75 ,2096, 2090.75, 2012.75, 1957.50, 1910.75, 1824.50, 1795.50

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Posted by Peter Davies on August 01, 2016
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