Wednesday, November 11, 2015

S&P 500 If Market Holds Higher Than 2082 Can Look For Longs Into Close

(^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

Looking To See If Hold Higher
Even though we were successfully short earlier, we said that our price target was a good level to hold as a support today.  We said that the market can close higher than that today.

So far, the market is proving us correct.

If the market can go above 2082 today and hold, we think there will be long trade setups into the close.

We've been saying on this site and Seeking Alpha that we thought the market was showing good action on bad news and holding the rate worries.  The last few days we saw rallies into the close and we saw an early sharp down move also held.

Because of our earlier profits today, we're on the sidelines the rest of 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
BY USING THIS SITE YOU TAKE ALL RESPONSIBILITY FOR YOUR OUTCOMES AND LOSSES
AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS

No comments:

Post a Comment

Comment here: