Medium risk trades:
Buy S&P Futures @ 1780 for 30 minutes expiration or less if it stays above
Sell S&P Futures @ 1785 for 30 minutes expiration or less if it stays below
S&P Futures rebounded @ possible support 1780 (not confirmed, wait for it to retest 1780 to be safer), current resistance @ 1785 but possible to break above after the market opens @ 9:30am EST
Risk: All US economic data are worse than expected & stocks might be mixed, avoid trading if support/resistance is broken to be safer although current market pattern is to break below support & go higher
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| Chart shows possible support @ 1780, resistance @ 1785 |
High risk speculative trade: (without specific price target)
Buy S&P Futures if it goes up after 9:30am EST for 10am EST expiration when Fed Chairperson-Designate Yellen is due to testify
Stocks should go higher ahead of it
Avoid buying if it S&P Futures nears & stays below 1785, wait for it to break & stay above if that's the case
Results:
Buy S&P Futures @ 1780- invalid/ win at higher risk
Buy S&P Futures for 10am EST expiration- invalid/ win at higher risk
S&P Futures went down & broke below 1780 after 9:30am EST, therefore signals are invalid
But it's still possible to win if u buy between 1780-1780.625 or below at a higher risk for it to expire around 1780.625 at 10am EST
Market movement was disrupted because all US economic data were worse than expected although stocks still went higher from less than 10 minutes before 10am EST
Sell S&P Futures @ 1785- invalid
S&P Futures stayed too low & only broke above 1785 after Yellen's statement
S&P 500 rebounded around 1780 but no strong supports found for safer trades
The market went up because of Yellen's comments instead of strong supports which would be safer after stocks showed weakness by dropping below supports
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