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Monday, 14 October 2013

Abandon Sell S&P 500 @ 1710 (Meeting postponement update)

Update: White House officials said the postponement should be seen as "positive"
"The president’s 3:00 p.m. meeting with the bipartisan leadership has been postponed to allow leaders in the Senate time to continue making important progress towards a solution that raises the debt limit and reopens the government"
The postponement shows that Obama is intentionally putting more pressure on the Republicans & will try to save the situation at the last minute if Republicans decide not to
Wait for market reaction & watch 1710

Update: S&P 500 is building support @ 1706.45 but 1710 still remains a resistance
Abandon selling S&P 500 @ 1710 even if it stays below because of the update, trend might reverse & continue higher
Too risky to trade because of news updates, market is volatile now

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