S&P finds support at 20 day SMA
Index & Sector performance 3/12/14 The Market: Overnight trading took the S&P 500 futures index down to our target region of $1857-50 with the low of the session printing $1853.75ES right near the open which correlated with the S&P 500 cash index touching the 20 day SMA. From there we bounced and then spend the rest of the day consolidating in a flag which has broken to the upside in after hours but with not much gusto. Until the index clears the $1870-72.50ES area we will consider the potential for more downside. Tomorrow is the heaviest day of the week…
Easy come, easy go…for the Bears
Index & Sector performance 3/4/14 The Market: In overnight trading the S&P 500 broke out over our highlighted resistance just below $1850ES and never looked back ultimately not only regaining all that was lost on Monday but also adding a few points to close at a new all time high. The news attributed the move to an easing in the Russia/Ukraine situation after Putin reportedly stated that Russia would only use force as a last result. Tomorrow will be a very interesting day in the market especially coming off the previous two days of trading. If we start to see…
Choppy trading leaves the indices flat
Index & Sector performance 2/26/14 The Market: A choppy trading session to saw a sell off toward the open which ultimately was bought until midday when the S&P started to make its way back down toward and below the previous intraday lows. Again buyers stepped in and were able to close the S&P 500 essentially flat on the day. Companies scheduled to report earnings pre-market: Analyst Comments: