<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=174932623114557&amp;ev=PageView&amp;noscript=1">

S&P Daily Pre-Market Prep 4/12/17

Posted by Peter Davies on April 12, 2017


Yesterday felt like a big day but in the end range was less than 20 points for the day session. We are still in the medium term range (white box) and we ended up where we started.


We are now back in the main distribution from last week and this week.
We settled at 2351, 1.5 points below prior settlement. So while I think it's good to be on the lookout for another break to the downside. We basically had a day yesterday where nothing much happened. We went down and then back up. It's possible this is a sign of overall weakness and it's also possible that people jumped on because it's been so dull of late.

- On the lookout for a break down again but really - we are back in the overall range, so need to be careful and not jump in too soon or on too little volume
- looking for a trade off the open, then playing it by ear based on the amount of excitement generated
- Still watching 61 above but the bottom of the range I'm not looking at 2333

Weekly Numbers
Range - 2333.25 -> 2363.25
Value 2346.75 -> 2356.75
S1 - 2336.50, R1 - 2371.50

Daily Numbers
Range 2333.25 -> 2251.75 / 2355.75
Value - 2340 -> 2349.50
Globex 2345 -> 2356.50

Settlement – 2351

Today Only - 2333, 2361

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



< Back to Blog

Topics: Market Updates