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S&P Daily Pre-Market Prep 6/21/17

Posted by Peter Davies on June 21, 2017

2017-06-21_14-22-27.png

Now we are back into the range so expecting us to move to 16.25 where we'll likely move up and continue in this range. Not 100% certainty of course, it's just my hypothesis going in.

2017-06-21_14-23-00.png

Not too much to read into the profiles, we are well and truly in the old range, hence me thinking it's an extension.
 
2017-06-21_14-23-22.png
 
Looking closer, I'll be watching yesterdays range/value range - you can see the value low has held overnight, so I'm also going to look at 42.75 - the late pullback yesterday as potential resistance.

Plan
- Short bias but not married to it
- Early trade is on
- Market gapped down, if we open down, we may see an initial rebalance up off the open - be wary of any moves up as they may not last
- Saying that we dropped 20 points yesterday, so a snap back is possible - so longs on high volume
- Watching value low/42.75 on any moves up - but will join any move down, even on average volume


Weekly Numbers

Range - 2429.25 -> 2451.50
Value - 2436.50 -> 2450
S1 - 2417.50, R1 - 2443.25

Daily Numbers
Range - 2434 -> 2446.5 / 2451
Value - 2437.75 -> 2443.25
Globex 2429.25 -> 2438

Today only - 42.75

Settlement – 2437.50

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

 
 
 

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Topics: Market Updates