Traders Corner   23 comments

The S&P 500 levels to watch today:

UPSIDE: 1985 (July 3rd’s high and the all-time high), and 1987 (top of the Bollinger Bands).
LAST CLOSE: 1973, inside the 1972-1984 (15 data points) range.
DOWNSIDE: 1968-1969 (2 data points and June’s high and the 20 day moving average), 1965 (3 data points), 1962 (July 1st’s low), 1959-1960 (3 data points), 1955 (July 17th’s low), 1952 (July 10th’s low), 1950 (bottom of the Bollinger Bands), 1938 (50 day moving average), 1924 (May’s high), 1915 (June’s low), and 1901 (100 day moving average).

S&P 500 Daily Momentum: Bearish
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Mixed (trending bearish)
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures: Positive
Overall: This morning, we are starting to get a more clear picture of the technicals, with the S&P 500 momentum clearly favoring the bears. However, the futures are pointing to a positive opening, but the September futures are still below yesterday’s close (at 1971 as I write this). I will be looking to short any opening pops today.


23 responses to “Traders Corner

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  1. I was not shopping for property in Hawaii! GTAT has a long, long, long way to go before I can do that. I did have a three day weekend in Ft Lauderdale. I did fantasize about buying a condo in the former Trump building which has been taken over by Conrad Hotels. Back at work today!

  2. Trying UVXY @ 25.05

  3. Dipping toe back into IPO market. Bought TUBE for a trade at 9.40.

  4. Gtat is up very nicely today. Trying to sell some 17 calls on 1/3rd of my shares

  5. Marshall, the Ticker on the TC tmeds changed this am. I can’t find anything telling me why? Do you know what’s going on?

  6. Nice bounce in GTAT this morning. If it can break above 15.75 it should move higher. Hard to tell much in this market. Up one day down the next. Weekly S&P chart is still positive but starting to level. Daily chart shows no clear direction as it continues flat. If we can get some follow through on this bounce we should move higher although I wouldn’t expect a rocket move. Definitely a wait and see.

  7. Forgot to post yesterday. Sold week 2 GPRO 46 calls for 1.75 reducing my basis to 42.68.

    • Yea my wife is addicted to one of these types of games. Talk about the new crack reel people in get them hooked make them pay.

  8. Partial position in GLUU @ 7.53. Sitting on quite a bit of cash. Not going to sell calls yet, although premiums are good.

  9. Closed Dec BTU $17 calls for +$0.76.

  10. Out of UVXY at break even. Tomorrow is a new game.

  11. did not get the call price I wanted on my GTAT shares so we’ll see tommorrow.

    Followed Marshall into TUBE. at 9.68. So far so good. Watching GLUU very closely,. I want it cheaper! Damnit!

    Also PLUG (although I probably already have enough alternative energy exposure)

  12. not sure if anyone still owns the TLM that I bought on 6/17 due to unusual option activity (but then sold in market downdraft).. There was a bloomberg article about potential sale of part of company and that may be a catalyst for unlocking some value.

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