Traders Corner   6 comments

The S&P 500 levels to watch today:

UPSIDE: 1925 (2 data points and the all-time high), and 1931 (top of the Bollinger Bands).
LAST CLOSE: 1924 (May’s high).
DOWNSIDE: 1918 (June 3rd’s low), 1897 (April’s high), 1894 (20 day moving average), 1883 (March’s high), 1876 (50 day moving average), 1867 (February’s high), 1859 (May’s low), 1856 (bottom of the Bollinger Bands), and 1854 (100 day moving average).

S&P 500 Daily Momentum: Bullish
S&P 500 Daily Overbought/oversold: Neutral (leaning overbought)
S&P 500 Weekly Momentum: Bullish
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures (June): Flat (leaning negative)
Overall: It is looking like the S&P 500 is starting to flatten ahead of Friday’s U.S. Employment Report. If we get any large moves today, I would expect them to reverse before the end of the day.

Posted June 4, 2014 by edmcgon in Daytrading, Investing, Market Analysis, Technical Analysis

6 responses to “Traders Corner”

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  1. Marshall, I know that you like the insurance companies, looks like they have some positive news on the regulation front finally?

    Reply
    bobb
    June 4, 2014 at 12:18 pm

  2. Bobb – I now see what you mentioned. The senate has passed a bill allowing greater flexibility for insurers under Dodd-frank. But it still needs to pass the house and be signed by Obama.

    Reply
    Marshall
    June 4, 2014 at 1:55 pm

    • And, depending on how the government regulators decide to re-write the regulations based on the law (because Congress is rarely specific in their laws), and then depending on how the regulators decide to enforce the new regulations, the insurance industry might have more flexibility…or not…

      Reply
      edmcgon
      June 4, 2014 at 2:07 pm

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