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Tuesday 24 December 2013

Stock Market Analysis

The stock market was weaker yesterday but still managed to close above opening price
S&P Futures' recent supports @ 1821.65 & 1821.95, resistance @ 1824
No strong supports found yet & resistance is stronger
The stock market still looks weak today but is staying above 1820
After better than expected economic news @ 8:30am EST, S&P Futures became stronger & jumped from 1823 to 1823.65 but dropped back to 1823

Trading will be at a higher risk today
Buy S&P Futures @ 1820-1823 if it stays above & goes higher
Sell S&P Futures @ 1824 if it stays below & drops further
Sell S&P 500 @ 1830 if it stays below & drops further

Economic news might continue to affect & change market direction later
US stock market will close early at 1pm EST today & is closed tomorrow on Christmas

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