Traders Corner   8 comments

When markets don’t move much, like yesterday, neither do the technicals.

For the S&P 500, the main upside resistance appears to be the range where it has closed the last 2 days: 1693-1695. Also, the last 3 trading days have seen the S&P 500 visit the area of the 50 day moving average, only to finish well above it.

The S&P 500 levels to watch today:

UPSIDE: 1697-1698 (2 data points and July’s high), 1709 (August’s high), and 1727 (top of the Bollinger Bands).
LAST CLOSE: 1693, inside the 1693-1695 (5 data points) range.
DOWNSIDE: 1687-1689 (4 data points and May’s high and the 20 day moving average), 1680-1682 (4 data points), 1679 (50 day moving average), and 1656 (bottom of the Bollinger Bands).

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8 responses to “Traders Corner

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  1. I added UPRO at $72.28. Will sell at $73.01, or best price later today.

    How many times does the S&P have to bounce off the 50 day MA? It’s getting predictable.

  2. bought tvix this am at 15.30

  3. I sold UPRO at $72.37 for a mere 0.12% profit. Not as much as I’d hoped for, but better than nothing.

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