Thursday, November 12, 2015

S&P 500 Wild Swings So Far : Bearish Bias 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

Volatility is usually a sign for a down market. The market is swinging back and forth between large intraday ranges so far, which probably means we end up going lower.

That said, we are waiting for several confirmations before we enter from here.

Our queue points that we need to clear before we have confirmation of which direction to trade today are 2063 and 2050.  Holding above 2063 we have trades on the long side and holding below 2050 we have trades on the short side.

That said, we have a bearish bias now that medium term the stock market appears to be turning down possibly led by questions surrounding Fed policy.

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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AND HOLD BESTIDEAS, ITS CONTRIBUTORS AND ELAZAR ADVISORS, LLC HARMLESS

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