Traders Corner   5 comments

S&P 500 futures are up this morning, pointing to a positive open. There is nothing in the technicals to force a direction, so anything is possible today.

The S&P 500 levels to watch today:

UPSIDE: 1782 (November 13th’s high), 1784 (November 19th’s low), 1788 (November 18th’s low), 1790-1791 (2 data points), 1795 (2 data points), 1797 (top of the Bollinger Bands), 1798 (November 15th’s high), and 1802 (November 18th’s high and the all-time high).
DOWNSIDE: 1780 (November 14th’s low), 1777 (November 20th’s low), 1773-1775 (3 data points and October’s high), 1770-1771 (2 data points and the 20 day moving average), 1764-1768 (5 data points), 1760-1762 (3 data points), 1752-1755 (2 data points), 1746-1747 (2 data points), 1743 (bottom of the Bollinger Bands), and 1730 (50 day moving average).


Posted November 21, 2013 by edmcgon in Daytrading, Investing, Market Analysis, Technical Analysis

5 responses to “Traders Corner

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  1. I added UPRO at $86.90, with a plan to sell it next week. I was looking at S&P 500 results for November going back a decade, and the end of November is usually quite good for the S&P. I suspect this is due to mutual funds getting ready for December distributions, but that is just a theory.

    I may sell it sooner if the S&P 500 hits 1802.

    • Just in time for Christmas! I’m holding out for much more than 1802. I’m greedy

      • Billr,
        I am really looking at the time factor (next week) more than the dollar value, although I may sell early if I get greedy. 😉

      • All signs point to 1830 ES with a sell stop set at 1770 ES. If we make 1830 ES the S&P would be higher. I’m a very young learner of this Elliot wave but the bottom yesterday the bounce and then today. Now add in your analysis… Time will tell…

  2. Couple quick specific stock comments. First NUS is up nicely for me as they increased 2014 guidance. So those call options we were looking at a couple days ago have jumped from about $21 to over $24. Second, I mentioned a couple of times my remorse at selling VJET at 24.13 as they then jumped the next 3 weeks into the 60s. I see they have fallen back based on some studies by Citron into the mid 30s. Some people really got burned quickly buying north of 60. Finally, LQDT is an interesting stock going to the woodshed today, down about 18%. I am not interested right now in putting money into the market, but I throw it out there as one worthy of a look-see as eighteen percent seems a bit extreme.

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