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).

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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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