Look to buy S&P 500 @ 1840 & 1842 (S&P Futures around 1834 & 1836) if it breaks above & goes higher, for 30 minutes expiration
Look to buy S&P Futures @ 1834 for end of day expiration (High risk speculative signal as it's not confirmed if it can stay above yet)
1842 was yesterday's resistance but is slightly broken, making it possibly easier to break above & go higher today
Resistance remains as S&P Futures dropped below 1836 after the market closed & looks weak for now
Look to sell S&P Futures @ 1836 if it stays below & drops further, for 30 minutes or less expiration
It might be safer not to sell near or after the stock market opens at 9:30am EST as it often goes up after that
Update:
S&P Futures broke above 1836 even before the market opened, which was too soon
Most stocks dropped after the market opened as they're too high
S&P Futures built strong resistance @ 1839 & dropped sharply to 1834, S&P 500 also broke slightly below possible support @ 1840
It will be much more difficult for stocks to go higher today
Trading risk increased, market is bearish for now without any strong supports, avoid trading for now to be safer, unless it rebounds strongly & goes higher
Results:
Sell S&P Futures @ 1836- 2 wins
S&P Futures first stayed below 1836 for a while & dropped further to expire @ 1835.15 at 7am EST & 1835.65 at 7:30am EST
(Time shown in all S&P Futures charts are EST+13hours)
Buy S&P Futures @ 1836- 1 win
Stop selling & switch to buy S&P Futures @ 1836 after it broke above resistance & went higher to expire around 1837.45 at 8am EST
Buy S&P Futures @ 1834- 1 win
S&P Futures broke above 1836 even before the stock market opened & was overbought earlier than expected
After market opened, it started to build resistance @ 1839 then dropped sharply to around 1834 (1834.65 lowest point)
Wait for it to rebound strongly & go higher
S&P Futures expired @ 1837.45 at 11:30am EST
Buy S&P Futures @ 1834 for end of day expiration- 1 win
S&P Futures also stayed above 1834 for the rest of the day & went higher to expire @ 1836.65 at the end of the day (4pm EST)
Buy S&P 500 @ 1840- 1 win
The stock market was overbought even before it opened, earlier than we expected
We expected S&P 500 to retest 1840 support & 1842 resistance only after the market opened
But it broke above resistance too early then corrected itself by dropping back to the range of 1840-1842
However, it also lost momentum & was unable to break above 1842 anymore
S&P 500 built resistance @ 1844 & dropped sharply to 1840, even breaking slightly below 1840
Avoid trading when it continued to be in a downtrend, wait for it to rebound strongly & go higher
S&P 500 rebounded & went higher later to expire @ 1841.59 at 11:30am EST
Buy S&P 500 @ 1842- invalid
1842 then stayed as resistance as S&P 500 couldn't stay above it properly & kept dropping below therefore signal is invalid
Most stocks dropped after the market opened as they're too high
S&P Futures built strong resistance @ 1839 & dropped sharply to 1834, S&P 500 also broke slightly below possible support @ 1840
It will be much more difficult for stocks to go higher today
Trading risk increased, market is bearish for now without any strong supports, avoid trading for now to be safer, unless it rebounds strongly & goes higher
Results:
Sell S&P Futures @ 1836- 2 wins
S&P Futures first stayed below 1836 for a while & dropped further to expire @ 1835.15 at 7am EST & 1835.65 at 7:30am EST
(Time shown in all S&P Futures charts are EST+13hours)
Buy S&P Futures @ 1836- 1 win
Stop selling & switch to buy S&P Futures @ 1836 after it broke above resistance & went higher to expire around 1837.45 at 8am EST
Buy S&P Futures @ 1834- 1 win
S&P Futures broke above 1836 even before the stock market opened & was overbought earlier than expected
After market opened, it started to build resistance @ 1839 then dropped sharply to around 1834 (1834.65 lowest point)
Wait for it to rebound strongly & go higher
S&P Futures expired @ 1837.45 at 11:30am EST
Buy S&P Futures @ 1834 for end of day expiration- 1 win
S&P Futures also stayed above 1834 for the rest of the day & went higher to expire @ 1836.65 at the end of the day (4pm EST)
Buy S&P 500 @ 1840- 1 win
The stock market was overbought even before it opened, earlier than we expected
We expected S&P 500 to retest 1840 support & 1842 resistance only after the market opened
But it broke above resistance too early then corrected itself by dropping back to the range of 1840-1842
However, it also lost momentum & was unable to break above 1842 anymore
S&P 500 built resistance @ 1844 & dropped sharply to 1840, even breaking slightly below 1840
Avoid trading when it continued to be in a downtrend, wait for it to rebound strongly & go higher
S&P 500 rebounded & went higher later to expire @ 1841.59 at 11:30am EST
Buy S&P 500 @ 1842- invalid
1842 then stayed as resistance as S&P 500 couldn't stay above it properly & kept dropping below therefore signal is invalid
No comments:
Post a Comment