LULU warns and market dives
Index & Sector performance 1/13/14 The Market: The S&P 500 meandered throughout the Sunday evening session, into Monday and even to start the trading day but then around noon EST weakness started to set in and continued to build. Around 2:30 pm EST we had reached R2 support in the future but we posted at StockTwits that this support did not look like it would hold due to the MACD’s formation. That support was indeed lost and the S&P 500 futures (ES) lost another 10 points to the day’s lows and 5 points to the close overall netting a 20+…
S&P Futures play MA pinball
Index & Sector performance 12/16/13 The Market: The made strong gains today after what looked like a horrible start to the week. In overnight trading Sunday the S&P 500 dropped t0 $1754 (March 2014 emini contract) tagging the 50 day SMA and then built a rally off that support. Surprisingly by the morning the futures had not only regained everything that was lost from Sunday evening’s open but also but in some gains. Those who do not look at the futures may have never even known of the rough start. The futures then rallied pre-market to the 20 day SMA…