S&P Daily Pre-Market Prep 8/3/17

Posted by Peter Davies on August 03, 2017

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Still in the narrow range and still rotating around it.

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A very evenly distributed profile - not much to say on that other than it points to continuation of the range.
 
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Yesterday was a very technical 'day trader' driven day. A reversal off the overnight high and we traversed the range top to bottom. So even though we are in a range, there's good opportunity.

Plan
- Trade the range - but look for an early trade off the open
- Watch this weeks range first - so possible fades around 64.25 and 77.25 then the larger rage 61.25-79
- No trades in the middle - unless off overnight high/low or one of yesterdays levels
- Be patient if there's no trade off the open,wait for an extreme


Weekly Numbers
Range - 2463.25 -> 2477.25
Value - 2468.75 -> 2474.75

Daily Numbers
Range - 2463.25 -> 2475.75 / 2476
Value - 2465.75 -> 2472.75
Globex - 2467.75 ->2472.75

Settlement – 2473.50

Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400

Jigsaw-trading.png 

 

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Topics: Market Updates