Traders Corner   8 comments

The S&P 500 has closed in the 1688-1693 range for 3 of the last 4 trading days. Sadly, the September futures aren’t giving a lot of guidance at the moment, pointing up to 1693. Today could be a decent shorting opportunity (hello SPXU!) if we open that high.

The S&P 500 levels to watch today:

UPSIDE: 1695 (August 7th’s high), 1698-1700 (2 data points and July’s high), 1703 (August 5th’s low), 1705 (August 6th’s high), 1707 (August 1st’s high), 1708 (top of the Bollinger Bands), and 1709 (2 data points and the all-time high), .
LAST CLOSE: 1689, inside the 1688-1693 (12 data points and the 20 day moving average).
DOWNSIDE: 1686 (August 9th’s low), 1683-1684 (2 data points), 1675 (bottom of the Bollinger Bands), 1654 (June’s high), 1653 (50 day moving average), 1604 (July’s low), 1597 (April’s high), 1581 (May’s low), 1572 (March’s high), 1560 (June’s low), and 1544 (200 day moving average).

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Posted August 13, 2013 by edmcgon in Daytrading, Investing, Market Analysis

8 responses to “Traders Corner

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  1. I added a small position of SPXU at $20.64 in the pre-market. I will wait until the markets open to decide the sell price, but I will probably sell it today.

  2. Sold SPXU at $20.85 for a 1.02% profit.

  3. Bought TZA for 25.00. Sold Friday 25 covered calls for .50. If called out profit will be .50 2.0%

  4. The average share price of my five buys of Apple stock is now a green number! If it goes up another 10% my first limit sell will kick in selling my highest price shares at a 5% profit and reducing my remaining share average price.

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