Wednesday, November 11, 2015

S&P 500 Forced To Wait

(^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

Waiting
The market looks like it wants to move down but there is big support at 2074, as we said and saw earlier.

We think the market is going to try to make a down move.  If not for the support we'd want to short on this move but we're forced to do nothing as we think the market will close at or above 2074 today.

There are big intraday cross currents here so we'd avoid the chop and finish for the day.



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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