Traders Corner   5 comments

The S&P 500 levels to watch today:

UPSIDE: 1963 (2 data points), 1968 (June 24th’s high and the all-time high), and 1970 (top of the Bollinger Bands).
LAST CLOSE: 1957, inside the 1957-1960 (6 data points) range.
DOWNSIDE: 1955 (June 9th’s high), 1947-1950 (5 data points), 1939-1944 (9 data points and the 20 day moving average), 1937 (June 13th’s high), 1933 (June 17th’s low), 1924-1928 (5 data points and May’s high), 1922 (June 5th’s low), 1918 (2 data points and the bottom of the Bollinger Bands), 1915 (June 2nd’s low), 1907 (50 day moving average), 1897 (April’s high), 1883 (March’s high), and 1877 (100 day moving average).

S&P 500 Daily Momentum: Bearish
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bullish
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures: Flat (leaning negative)
Overall: The S&P 500 made a trip down to the 20 day moving average yesterday, and bounced back up to close in the range it was in at the end of the day Wednesday. Considering it is the end of the month/quarter, and volume is low, I would expect the markets to be easy to manipulate by professional traders looking to make their month/quarter ending numbers. Don’t be surprised to see a mini-bull run here.

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5 responses to “Traders Corner

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  1. Anyone checked into milk? They were a good mid cap company till they became private. Now they are back.

  2. Played GPRO for plus 68 2.1%

  3. Been real busy all week but here are some updates. Did not trade OIH this week as I was concerned it was overbought and there was some wild action earlier in the week. I’ll reevaluate it again Monday morning. Earlier in the week bought GTAT at 18.80 and sold July 19Calls for 1.05, bought the calls back the next day at .65 and sold July 18’s for 1.10. Not putting on full positions here, for one I want to see if GTAT breaks out to a new high, and I want to see more strength in the market. I’m going to be more conservative in my expected returns for the near term.

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