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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).


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

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