Traders Corner   6 comments

The McClellan Oscillator is back above overbought territory, now at 62. With S&P 500 futures flat, and other technicals such as the Williams %R still showing overbought, and with Bernanke speaking tomorrow, it is safe to expect a flat or bearish day today.

The S&P 500 levels to watch today:

UPSIDE: 1684 (July 15th’s high), 1689 (top of the Bollinger Bands), and 1687 (all-time high).
DOWNSIDE: 1680 (July 12th’s high), 1676-1677 (2 data points), 1672 (July 12th’s low), 1657 (2 data points), 1654 (July 9th’s high and June’s high), 1647 (July 10th’s low), 1645 (10 day moving average), 1644 (July 8th’s high), 1642 (July 9th’s low), 1634 (July 8th’s low and the 50 day moving average), 1632 (July 5th’s high), 1627 (20 day moving average), 1622-1626 (9 data points), 1618 (July 3rd’s high), 1614 (July 5th’s low), 1606-1610 (2 data points), 1604 (July 3rd’s low), 1597 (April’s high), 1581 (May’s low), 1572 (March’s high), 1565 (bottom of the Bollinger Bands), 1560 (June’s low), 1536 (April’s low), 1530 (February’s high), and 1519 (200 day moving average).


Posted July 16, 2013 by edmcgon in Daytrading, Investing, Market Analysis

6 responses to “Traders Corner

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  1. I added a small position of SPXU at $21.20, and I will sell it at $21.40 or best price today.

  2. I sold SPXU at $21.32 for a 0.57% profit. This market looks more flat than bear.

  3. What would you do?
    Bought ConocoPhillips/COP in mid Sept 2011. Purchase price was $49.35 and I bought it for its dividend. Today, 22 months later, it is selling for $65.06 for a 31.79% gain and a total gain when adding in dividends of 41.62%. Current dividend yield based on my buy price is 5.59%. Dividend has increase 1 cent over last 12 months — basically no increase in dividend. Dividends are taxed a tax saving dividend rate and if I sell I sell with a long term capital gains rate. These shares are in my trading account. I have additional shares in a 401K which are up another 5% and at this time I am going to hold.
    Would you hold or sell?

  4. Tom – I thought I saw where cop increased their divvy last week.

    • From 66 cents to 69 cents per quarter. For the last 4 quarters that is an average of 3/4 cent increase. Should they hold the increase for future quarters it will be a 12 cent per year increase on a year to year basis.

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