S&P Futures broke above resistance & went higher, showing a lot of strength but went up too high too early again
S&P 500 new resistance @ 1844 but it might be able to go even higher if economic news especially Consumer Confidence are better than expected
Look to buy S&P 500 @ 1844 if it breaks above & goes higher, for 30 minutes expiration, sell @ 1844 if it fails & drops further
If it fails, S&P 500 might drop back to test 1840 again
Look to buy S&P 500 around 1839 or 1840 (support not confirmed yet for today) if it rebounds, stays above & goes higher, for 30 minutes expiration, especially if economic news are better than expected & the market goes up after that
Today's the end of the year 2013 & trading will be at a higher risk as stocks might also drop instead of going higher due to profit taking
Updates:
New possible resistance @ S&P Futures' 1840 (S&P 500 around 1845.5)
S&P Futures found small support @ 1839 (S&P 500 around 1844.5) & is trying to stay above 1840 (S&P 500 around 1845.5) & go even higher
Results: Buy S&P 500 @ 1844- 2 wins, sell S&P 500 @ 1844- 1 win
Buy S&P 500 @ 1844 as it broke above 1844 & went higher at 10am EST after Consumer Confidence was better than expected & expired @ 1844.99 at 10:30am EST
S&P 500 stayed below 1845.5 for around an hour then broke above & jumped to 1848.55 but slowly dropped back as it was too high
After it dropped below 1844, sell S&P 500 @ 1844 as it expired @ 1843.58 at 3pm EST
S&P 500 managed to stay above 1842 & rebound to go higher, but safer supports were at 1839 or 1840 & wasn't reached
Buy S&P 500 @ 1844 after it broke above 1844 again at 3:30pm EST & went higher to expire @ 1848.36 at 4pm EST
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