Market Updates

S&P Daily Pre-Market Prep 8/2/17

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2017-02-08_17-37-08.png

Tough day yesterday but well within our expectations. The inside Monday leading to a range week. This does not have to last the whole week, we tend to build energy as we go along a tight range like this till we break. The challenge is to be alert when the break actually happens.

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We are trading above the step in the profile from last week. with 2294 being where we taper off.
 
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Just moving sideways. Note that yesterday we didn't get a good trade off the open but we did get a fade of 2294 as per the plan.

Plan
- as per yesterday, presume the range until further notice with extremes at 2294 and 2284
- despite yesterday, still looking for an early trade as it's still likely the best opportunity
- an eye out for a break of the range, especially upside which I feel has the most potential (downside is last weeks range)

Weekly Numbers
Range - 2283.50 -> 2295
Value 2285.50 -> 2291
S1 - 2271, R1 - 2302.75

Daily Numbers
Range 2283.75 / 2285.25 -> 2295
Value 2286.75 -> 2292.25
Globex 2284.25 -> 2291.25

Settlement – 2288.50

Key Levels – 2178.75, 2129.50 , 2099.75, 2084, 2078.75, 2000.75, 1945.5,1898.75,1812.5,1783.5

Jigsaw-trading.png 

 

Posted by Peter Davies on February 08, 2017
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