Wednesday, November 11, 2015

S&P 500 Market Recap


Day Coming To A 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


Thanks to an early profitable call we sat out the rest of the day as nothing really set up for us.

We put out a support call early in the day of 2074.  The market held it early by ripping up and away from there but did end up closing below it.

Even though, generally the market appears to be holding, our medium term model may be turning somewhat bearish, which we need to watch.  We wrote yesterday that if the market doesn't start moving up and away now, then we could have some medium term downside ahead, (over several weeks).

This is definitely something that now needs watching.  We'd expect the inflation numbers should be decent Friday and next week given oil coming down but, if not, the market direction can change for the worse.

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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