Wednesday, November 11, 2015

S&P 500 Early Market Brief: Not Much Downside Today

(^GSPC, INDEXSP:.INX, NYSE ARCA: SPY, ESZ15.CME, $ES, $SPY); By Chaim Siegel of Elazar Advisors, LLC; Prices Quoted in S&P 500 EMini Dec Contracts

We said yesterday that with the late day rally that didn't follow through much we thought today's open would be up, which it is although slightly.

We should have a decent read today by 10 am what the market's initial follow through move will be.  If you've been following us you've seen us make such successful calls early in the day that saw nice follow through.

Today we don't see much market downside and will have a strong support by 10 am that we expect the market to at least close near or above.  Our resistance and support levels, when they are strong have held much more often than not by the close intraday.

Good luck today.

PRICES QUOTED IN THE ES EMINI DEC CONTRACT
#in, #s&p500, #stockmarket, #bestideas, nyse arca:spy
Disclosure: We may be trading S&P ES Dec in both directions at various times in the day
Disclosure: We may implement other price targets than we initially post on this site.
Disclosure: These trades can lose you money and principle especially when using leverage
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