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Friday 27 December 2013

Sell S&P 500 @ 1842 & 1844 or S&P Futures 1837 & 1839

S&P 500 retested yesterdays' resistance @ 1842 but failed to stay above & dropped further
S&P Futures' value changed compared to S&P 500, S&P 500's 1842 now = S&P Future's 1837 (previously 1836)
We also mentioned earlier that S&P Futures built strong resistance @ 1839= S&P 500's 1844

High risk:
Sell S&P 500 @ 1842 & 1844 or S&P Futures 1837 & 1839 if it stays below & drops further again
Risk: Stocks might suddenly break above & go higher again, but looks weak for now, support remains at S&P 500's 1840 although slightly broken & weakened
Trading continues to be riskier as stocks are trying to go higher but facing strong resistances

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