Continue Reading Below
Did you miss Tuesday’s TradeKing Midday Market Call? Here’s a quick recap. Don’t miss another session, register here today!
Analysis of S&P 500 from QuickTakesPro’s Michael Kahn:
S&P 500 (SPX) – At the time of this broadcast, SPX was around 1897.22 up 22.55 today. It broke down below its 200 day moving average of 1895.65 recently. It also broke down from the term support level going back to August. It does appears to be in a little bit of a rebound now. However, it may be just a short term bounce.
All the other major indices have also broken down and seem to be in a similar pattern. They could be short term oversold.
The SPX is also well below its 50 day moving average of 1970.39.
The Chart of the Day is Charles Schwab Corp. (SCHW) -
Continue Reading Below
Analysis of SCHW Volatility Chart and Dividends from TradeKing’s Brian Overby - Technical tools used:
Brian Overby’s paper trade strategies based on Michael’s analysis -
Long Call Spread Long Call Brian’s Paper Trade - Long Call Spread (Very short term, speculative) Brian’s Paper Trade - Long Call (Longer term, less speculative)
TradeKing Options Tools used:
- Detailed Quote
All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment, financial, legal or tax advice. You alone are responsible for evaluating the merits and risks associated with the use of TradeKing's systems, services or products.
TradeKing selects and defines as All-Stars certain independent market commentators who are recognized industry personalities and experienced traders and who provide timely market commentary via the TradeKing All-Star Blog and/or TradeKing Webinars. Each All-Star commentator's bio, related qualifications and disclosure as to their relationship with TradeKing can be found on the All-Star Roster. The selection of All-Star commentators is solely based on the quality and style of the content provided. TradeKing does not measure, endorse, or monitor the performance or correctness of any statement or recommendation made by independent All-Stars commentators. Supporting documentation for any claims made by TradeKing All-Stars will be supplied upon request by the author of the post, who is solely responsible for the views expressed. Contact TradeKing All-Stars by sending an email message to TKallstars@tradeking.com.
(c) 2014 TradeKing Group, Inc. All rights reserved.