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Tuesday 15 October 2013

Sell S&P 500 @ 1710- invalid

Previous signal:
Sell S&P 500 @ 1710 if it stays below, for 30 minutes expiration
1710 continues to be a strong resistance as S&P 500 reached 1709.5 & dropped to 1706
1706 possible but weak support, stronger support @ 1700
1707 2nd small resistance
It might try to reach 1710 again, sell if it fails to break above & drops back

Result: invalid
S&P 500 broke above 1710 at 11:22am EDT but only managed to stay above for less than 15 minutes
Trend changed after breaking news of President meeting @ 3:15pm or 1709.5 might've continued being a strong resistance which wouldn't be broken
Possible entry point would be selling after it failed to stay above 1710 but at a higher risk since it has already been broken


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