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 1933.12 up 29.11 today. The 200 day moving average of 1906.91 was broken to the downside recently, but the SPX has been coming back for a few days and has broken back above it today. It is still below the long term trendline going back to November 2012 and still has a way to go before that can be reached again, but for the moment, the breakdown is looks over. For today to be considered a real “follow through” day on the rebound, Michael would “like to see more volume.
The SPX is also well below its 50 day moving average of 1966.62.
Continue Reading Below
Brian Overby’s paper trade strategies based on Michael’s analysis -
Long Call Spread Long Call Butterfly Spread Brian’s Paper Trade - Long Call Spread (Very short term, speculative) Brian’s Paper Trade - Long Call Butterfly Spread (Longer term, more complex) TradeKing Options Tools used:
- Detailed Quotewww.tradeking.com/events www.tradeking.com www.TradeKing.com/ODD additional risks and multiple commissions Commissions + Fees page
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.