Traders Corner   Leave a comment

S&P 500 futures are flat at the moment. Considering how the S&P 500 flatlined after yesterday’s big bump, it is not encouraging for bulls. Also, Williams %R is overbought, and the RSI is getting close to overbought. I won’t go so far as to predict a down day today, but we aren’t far from one.

The S&P 500 levels to watch today:

UPSIDE: 1727 (top of the Bollinger Bands), and 1729 (September’s high and the all-time high).
LAST CLOSE: 1721 (October 16th’s high).
DOWNSIDE: 1711 (2 data points), 1709 (August’s high), 1703 (October 11th’s high), 1700 (October 16th’s low), 1698 (July’s high), 1691-1696 (7 data points and the 20 day moving average), 1687-1688 (2 data points and May’s high), 1680-1682 (2 data points), 1678 (50 day moving average), 1676 (October 8th’s high), 1674 (October 7th’s low), 1670 (October 3rd’s low), 1662 (October 9th’s high), 1660 (October 10th’s low), 1659 (bottom of the Bollinger Bands), 1654-1655 (October 8th’s low and June’s high), and 1646 (October 9th’s low).

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Posted October 17, 2013 by edmcgon in Daytrading, Investing, Market Analysis

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