Traders Corner   18 comments

S&P 500 Daily Momentum: Bearish (weakening slightly)
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bearish
S&P 500 Weekly Overbought/oversold: Neutral
S&P 500 Futures (June): Positive
Overall: We might be seeing the start of the next bull run, although the bears still own the momentum.

The S&P 500 levels to watch today:

UPSIDE: 1844 (April 15th’s high), 1846 (50 day moving average), 1849-1850 (January’s high and December’s high), 1852 (April 9th’s low), 1854 (April 8th’s high), 1858 (20 day moving average), 1863-1864 (2 data points), 1867 (February’s high), 1872 (2 data points), 1882-1885 (3 data points and March’s high), 1893 (2 data points), 1896 (top of the Bollinger Bands), and 1897 (April 4th’s high and the all-time high).
LAST CLOSE: 1842.
DOWNSIDE: 1841 (April 7th’s low), 1837 (April 8th’s low), 1834-1835 (2 data points and March’s low), 1830 (April 10th’s low), 1829 (100 day moving average), 1820 (bottom of the Bollinger Bands), 1814-1816 (3 data points), 1795 (150 day moving average), 1775 (October’s high), 1770 (January’s low), 1767 (December’s low), and 1763 (200 day moving average).

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18 responses to “Traders Corner

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  1. Best guess 1860’s could be a top before we start another downward move. This could be a C wave move higher.

  2. Trader, are you looking to sell some GTAT CCs this am?

  3. I am. Will be gone after the first hour. Limit sell May 17 at 1.15. May change before I leave.

  4. Start of the next bull run, although bears own the momentum???

  5. This rally has been weak. I don’t expect it will last for more than a few days.

  6. Sold GTAT May 18 calls for .75. If it hits, I have a 7% + gain. If not I continue to reduce my cost. I would have liked a little better premium but I think the momentum stocks will continue to be weak for the next month or so.

    Still trying to sell GTAT May 17s for 1.10 on 1/3 of my shares and I still have April calls at 16 which may be exercised on Friday.

  7. Sold May 17 GTAT calls for 1.10.

  8. Sold LNG may 9th 57 calls for 1.61. Gain of exactly 7% if I get called.

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