Price levels to watch 19 August 2013:
S&P 500 trading range- watch 1650-1660
Apple trading range- watch 505-510
JPM resistance @ 53.0
Price levels to watch 20 August 2013:
S&P 500 broke below 1650 & might drop even more tomorrow even though it's too low
Look to sell S&P 500 around 1650 tomorrow if it drops more, for end of day expiration
Apple broke above 510 but dropped to 507.74 20 minutes before it closed
(Trend to watch- once Apple breaks above a certain resistance, it tends to stay above for quite a while as it did with 500 too, we can make a medium risk short term trade for a possible win)
Look to buy Apple tomorrow if it breaks & stays above 510 again, for around 30 minutes expiration
JPM resistance @ 53.0 but was too far below, it even dropped below 52.0
Look to sell JPM below 52.0 if there are more bad news
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