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S&P Daily Pre-Market Prep 5/22/17

Posted by Peter Davies on May 22, 2017


Volume has been tailing off since the big down day last week. I still think that people will jump on any obvious signs of weakness. We are in the range still and last attempt to the low of the range fell short, so we should be on the lookout for signs of a failure before the range high.


Not much from the weekly profile - other than we are in the middle of last weeks range. Not a decisive location.
We had a late move down to 2378 on Friday - so an eye out for that. Other than that, we do have short term momentum upside but that's against the range high

- No bias, it's neutral
- Will jump on any obvious moves down (completion of the range upside)
- Other than that - looking for an early trade 'cause it really isn't the best location. Certainly no trades worth planning ahead to right now

Weekly Numbers
Range - 2344.50 -> 2404.50
Value - 2346.75 -> 2386.75
S1 - 2354, R1 - 2407

Daily Numbers
Range - 2361 / 2369.75 -> 2388
Value - 2378.25 -> 2385.75
Globex 2378.25 -> 2385.25

Settlement – 2381.50

Today only - 2378

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



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