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Tuesday 14 January 2014

S&P Futures analysis (unpublished) No safe trading signals today

Economic reports mostly better than expected, S&P Futures broke above small resistance @ 1819
Look to buy S&P 500 or S&P Futures @ 1819-1820 if it stays above & goes higher, for 30 minutes expiration

Risk: support not confirmed, S&P Futures is still weak but trying to recover, rebounded from 1810 & is slowly going higher

Analysis & trading signal written before the market opened, but unpublished as S&P Futures broke below 1820  & dropped to 1816 after it opened, not safe to trade even though it went up higher later
S&P 500 stayed above but support @ 1820 not confirmed as it was already broken yesterday

(Time shown in chart is EST+13hours)

Conclusion: no safe trading signals today
No confirmed supports found today but S&P still went up higher anyway
We should be more cautious after S&P 500 dropped the most from 1843 to 1816 yesterday although it rebounded today without any strong supports
The market seems to be stabilizing as it closed at 1838.88, back to 1840
Watch S&P 500 @ 1840 tomorrow

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