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Friday, 11 October 2013

Sell S&P 500 @ 1696- won

Medium risk short term trade:
Sell S&P 500 around 1696 for less than 30 minutes expiration if it stays below 1696
Possible resistance @ 1696, 1st it dropped from 1696.37, 2nd 1696.33
Risk: S&P 500 continued to go up despite bad economic data & might be targeting 1700

Result: won
S&P 500 expired @ 1693.69 at 11:00am EDT
1st line of resistance shows that it's slightly pointing downwards, a break below 1696 strengthened its resistance, another drop further confirms it as it continued to drop even further




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