Traders Corner   8 comments

S&P 500 Daily Momentum: Bearish (turning bullish)
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bearish (weakening)
S&P 500 Weekly Overbought/oversold: Neutral
S&P 500 Futures (June): Slightly positive
Overall: For you Federal Reserve fans, we get the largest purchase of treasuries today for April, as much as $4 billion. However, that doesn’t guaranty a bullish day: Back on April 10th, we had purchases of up to $3.5 billion, and the S&P 500 dropped over 2%. That said, the momentum technicals are trending bullish. Another positive day could easily shift the momentum to the bulls’ side.

The S&P 500 levels to watch today:

UPSIDE: 1867 (February’s high), 1869 (April 17th’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: 1864, inside the 1862-1864 (3 data points) range.
DOWNSIDE: 1858 (20 day moving average), 1856 (April 17th’s low), 1854 (April 8th’s high), 1852 (April 9th’s low), 1851 (50 day moving average), 1849-1850 (January’s high and December’s high), 1846 (April 16th’s low), 1844 (April 15th’s high), 1841 (April 7th’s low), 1837 (April 8th’s low), 1834-1835 (2 data points and March’s low), 1830 (April 10th’s low and the 100 day moving average), 1820 (bottom of the Bollinger Bands), 1814-1816 (3 data points), 1797 (150 day moving average), 1775 (October’s high), 1770 (January’s low), 1767 (December’s low), and 1766 (200 day moving average).

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8 responses to “Traders Corner

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  1. TZA @ 16.75. Average cost now 17.13.

  2. Added SPXU at $55.90.

  3. Bought a half position in SNDK at 53.10

  4. Fat finger – 83.10

    • Junker – I have never bought NSR, but they are a company that is on my short list (about 10 in list) to buy in early May to replace my tranche of five stocks. I will definitely read the article, though it expect it will confirm the reason they are on my short list.

  5. I added today to my RIOM position at 1.86. Just too cheap.

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