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S&P Daily Pre-Market Prep 3/28/17

Posted by Peter Davies on March 28, 2017

2017-03-28_16-27-52.png

A few scenarios I'm considering medium term. In other words - waiting for a range to form, so we can trade it.

2017-03-28_16-29-24.png

To the upside, I'm watching 49.25. If we can break that we could see a swift move up to 2369.
 
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From a daily perspective, we do have chop above us.

All in all - not much there to give us a strong bias but it does have the appearance of the push through that top range being rejected.

Plan
- No bias - a wait and see day
- Will play longs above yesterdays range with caution at 49.25
- Will follow any short side momentum only if there is overwhelming volume

Weekly Numbers
Range - 2331.75 -> 2378.75
Value 2342-> 2351.50
S1 - 2324.75, R1 - 2371.75

Daily Numbers

Range 2317.75 / 23155 -> 2341.50
Value - 2328.50 -> 2340.50
Globex 2338.25 -> 2344

Settlement – 2338.50

Today Only - 2349.25, 2369

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

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