Traders Corner   3 comments

Yesterday’s downward move took the S&P 500’s weekly RSI just below overbought. Unless we get a correction here, I would expect the S&P 500 to remain roughly where it is now.

The S&P 500 levels to watch today:

UPSIDE: 1770-1771 (2 data points), 1773-1775 (3 data points, October’s high and the all-time high), and 1783 (top of the Bollinger Bands).
LAST CLOSE: 1767, inside the 1764-1768 (5 data points) range.
DOWNSIDE: 1761-1762 (2 data points), 1756 (20 day moving average), 1752-1755 (2 data points), 1746-1747 (2 data points), 1729 (September’s high and the bottom of the Bollinger Bands), and 1715 (50 day moving average).


Posted November 13, 2013 by edmcgon in Daytrading, Investing, Market Analysis, Technical Analysis

3 responses to “Traders Corner

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  1. Exciting day (for me) on earnings front. CALL reported pretty decent earnings last night. The stock has a huge short interest, so there may be a squeeze play. Then TC reported pretty promising numbers (I thought). That could be good for holders of TC and TCPT. Finally, BBEP has a secondary offering today and the stock is trading down 5% or so. These are often good times to establish a position if you have been wanting in. I plan to increase my holdings by 20 or 30%.

    • Marshall,
      Doesn’t BBEP look a little pricey to you? While their dividend looks nice, will they be able to continue it bleeding over a billion in cash flow every year?

    • Hey, what do you know, my TCPT is in the green. Thanks for pointing this one out. Decent numbers in trying times means good management and bodes well for the future. I have a full position but am thinking about increasing.

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