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Thursday 16 January 2014

Sell S&P 500 @ 1850- 3 wins at higher risk

Previous signal:
Sell S&P 500 @ 1850 if it stays below & drops further, for 30 minutes expiration

1850's the strongest resistance as S&P 500's highest point was at 1849.44
S&P 500 will break that record if it breaks above 1850 today, which will be difficult

Stock market update:
The World Bank expects global economic growth to accelerate in 2014
Bank of America's profit jumps to nearly $3 billion
Most economic news are better than expected, market trend is still bullish

Therefore possibility for S&P 500 to hit a new record later today is increased
Sell S&P 500 @ 1850's risk increased, avoid selling or trade at higher risk, especially if it breaks above 1850

Sell S&P 500 @ 1850 update:
S&P 500 broke above 1850 & hit a new record as expected, but resistance @ 1850 still remains strong for now as it's dropping further below
However, it might try to break above 1850 later again

Results:
Sell S&P 500 @ 1850- 3 wins at higher risk
S&P 500 broke above 1850 to set a new record @ 1850.84 but quickly dropped back further below
Sell S&P 500 @ 1850 after it dropped below for it to expire @ 1846.94 at 11:30am EST
S&P 500 also tried to break above 1850 again but failed to break above
Sell S&P 500 @ 1850 again for it to expire @ 1849.30 at 12:30pm EST
S&P 500 tried again & broke slightly above 1850 but failed to stay above & dropped again to expire @ 1847.80 at 3:30pm EST



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