Sell S&P 500 @ 1710 for 30 minutes expiration if it stays below
Breaking news: Meeting between US President Obama and Congressional leaders postponed
Previous update: White House officials said the postponement should be seen as "positive"
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
Result: invalid
We saw the threat of S&P 500 breaking above 1710 & warned before it happened and it did to become invalid too
It later broke below & fluctuated around 1710, ultimately dropped until 3:54pm EDT but suddenly shot back up slightly above 1710
Confirming our analysis that it's too risky to trade because of market volatility
We should also consider trading less or none at all tomorrow due to market volatility & impact of sudden news changing the market anytime
No comments:
Post a Comment