Market Updates

S&P Daily Pre-Market Prep 9/26/16

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2016-09-26_4-10-31.png
On Friday we had

Quoting 
low expectation day, no strong bias but would expect us to see the other side of the range now we are chopping around


And it did chop around but we've now gapped down overnight. So with that in mind, we usually look initially to see if that move down will hold or whether US traders will reject the move down.

 2016-09-26_4-11-19.png

From a weekly perspective, we are still above the majority of last weeks trading, so an eye on 43.50. If that could hold, we could see some size come in on the buy side.
 
2016-09-26_4-12-16.png


We can see how choppy it was on Friday and that was expected. This dag down wasn't expected and so today I'm going in with no bias.

Plan
- No bias going in - but looking for an early move up in reaction to this large gap down.
- watching 43.50 to the downside and will jump on any move up from that area
- watching Fridays lows above too as potential sticking point as well as the 58.75 range low

Weekly Numbers
Range 2126.25 -> 2172.75
Value 2128.25 -> 2147.25
S1 - 2132.75, R1 - 21577.75

Daily Numbers
Range 2163.25 -> 2169.50 / 2172.25
Value 2165.25-> 2168.75
Globex 2144.25 -> 2159.50

Upper Range - 2158.75-2184,

Settlement – 2158

Today - 2143.50

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 26, 2016
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