Although stock futures showed resistance @ 1782, 1783 & stock continue to be weak, even dropping to 1776 earlier,
watch S&P 500/S&P Futures @ 1780 for a possible stronger rebound today if it stays above & goes higher, sell if it fails & drops further
Trading during news would be highly risky
Stock Market Analysis after opening:
Too risky to buy as S&P 500 failed to rebound strongly & dropped below 1783 (1782.83)
It also dropped below 1780 near 10am EST's economic news & was further weakened by worse than expected Business Inventories at 10am EST
Although stronger resistance remain @ 1782.22, yesterday's closing price,
it's still possible to sell S&P 500 @ 1780 after it failed, stayed below & dropped further
S&P 500 also rebounded @ 1772.65 although it's not a strong support, went higher to break above 1780 several times, trying to stay above but failed & finally dropped to close @ 1775.50
Results:
Buy S&P 500 @ 1780- invalid as it failed to rebound stronger, it also dropped below 1780
Sell S&P 500 @ 1780- 4 wins
S&P 500 dropped below 1780 & expired @ 1778.07 at 10:30am EST, 1779.18 at 11am EST, 1777.39 at 11:30am EST & 1775.50 at 4pm EST
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