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Expect more yawn-inducing action today, as the markets seem to be on auto-pilot. However, I am tempted to get some UPRO for Thursday’s first trading day of the year, which should see some good action.

The S&P 500 levels to watch today:

UPSIDE: 1844 (December 27th’s high and the all-time high), and 1849 (top of the Bollinger Bands).
LAST CLOSE: 1841, in the 1841-1842 (3 data points) range.
DOWNSIDE: 1838 (December 30th’s low), 1833-1834 (2 data points), 1828-1829 (2 data points), 1822-1823 (2 data points), 1810-1813 (5 data points and November’s high), 1808 (December 10th’s high), 1806 (2 data points), 1805 (20 day moving average), 1792-1803 (8 data points), 1786-1788 (3 data points), 1784 (50 day moving average), 1779-1783 (5 data points), 1777 (2 data points), 1775 (October’s high), 1772 (2 data points), 1767 (December 18th’s low), and 1762 (bottom of the Bollinger Bands).

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Posted December 31, 2013 by edmcgon in Daytrading, Investing, Market Analysis, Technical Analysis

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