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With Friday’s small move up, I may get another shot at the overbought daytrade this week, especially since S&P 500 futures are up this morning. Stay tuned…

The S&P 500 levels to watch today:

UPSIDE: 1692 (top of the Bollinger Bands), 1698 (July’s high), and 1709 (August’s high and the all-time high).
LAST CLOSE: 1687, inside the 1687-1689 (3 data points and May’s high) range.
DOWNSIDE: 1684 (September 10th’s high), 1681-1682 (2 data points), 1678 (September 11th’s low), 1675 (September 10th’s low), 1672 (September 9th’s high and the 50 day moving average), 1664 (September 6th’s high), 1659 (September 5th’s high), 1651-1656 (4 data points and June’s high and the 20 day moving average), 1640 (September 6th’s low), 1637 (September 4th’s low), 1633 (September 3rd’s low), 1627 (August’s low), 1620 (bottom of the Bollinger Bands), 1604 (July’s low), 1597 (April’s high), 1581 (May’s low), and 1575 (200 day moving average).

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

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