Market Updates

S&P Daily Pre-Market Prep 9/20/16

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FOMC day tomorrow, so traditionally a slow day. Still, we've had FOMC mornings that have been wild for no good reason, so we may see a move.

We are still in the middle of the range, still directionless with reducing volume. It's hard to see how we will do much today.

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Yesterday we traded around the overnight volume and we've stayed within that overnight.

Plan
- Low expectation day - still looking at 58.75 above and 2100 below as the decision points
- Also looking for bounces off yesterdays highs/lows/value
- But really not expecting much, so I'll let it play out for 20 mins and see if something intraday develops worth playing off

Weekly Numbers

Range 2100.25 -> 2156
Value 2112.75 -> 2135.75
S1 - 2110, R1 - 2155.50

Daily Numbers
Range 2127.75 -> 2146.75
Value 2130 -> 2142.50
Globex 2130.75 -> 2142

Upper Range - 2158.75-2184,

Today - 2090, 2100

Settlement – 2133

Key Levels: 2184, 2134.75, 2104, 2089.25, 2084, 2006, 1950.75, 1904, 1817.75, 1788.75

Jigsaw-trading.png 

 

Posted by Peter Davies on September 20, 2016
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