Traders Corner   12 comments

The S&P 500 levels to watch today:

UPSIDE: 1944 (August 11th’s high), 1955 (50 day moving average), 1956 (20 day moving average), 1968 (June’s high), 1991 (July’s high and the all-time high), and 2008 (top of the Bollinger Bands).
LAST CLOSE: 1936, inside the 1936-1937 (2 data points) range.
DOWNSIDE: 1927-1933 (July’s low and 4 data points), 1924 (May’s high), 1921 (August 4th’s low), 1916 (August 1st’s low), 1915 (100 day moving average), 1913 (August 5th’s low), 1911 (August 6th’s low), 1909 (August 8th’s low), and 1904 (bottom of the Bollinger Bands and August 7th’s low).

S&P 500 Daily Momentum: Bearish (weakening)
S&P 500 Daily Overbought/oversold: Neutral
S&P 500 Weekly Momentum: Bearish
S&P 500 Weekly Overbought/oversold: Neutral
S&P 500 Futures: Positive
Overall: Considering the weakness of yesterday’s pop, fading as the day went on, it is hard for me to see the S&P 500 breaking through the upside resistance in the 1955-1956 area, where the 20 and 50 day moving averages are converging. With the Bollinger Bands starting to contract, I wouldn’t be surprised to see the S&P start to become range-bound for awhile. Perhaps 1927-1944? I am just speculating, although the technical evidence does support the possibility.

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12 responses to “Traders Corner

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  1. With the Kinder Morgan news yesterday, I sold one of my lots to lock in the gains. I still own four more lots though. Any other holders on the board and plans to continue holding?

  2. I did the same. I sold half and kept half.

  3. Marshal and Ed,

    Looking at a couple of entertainment reits for yield and growth. On my list are EPR and GLPI, what are your opinions?

  4. bought uvxy 31.38

  5. Anyone own or have thoughts on FAST?

  6. Marshall, you said you own CA, is that for your new tranche? What price are you in at?

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