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Analysis of S&P 500 from QuickTakesPro’s Michael Kahn:
S&P 500 (SPX) – At the time of this broadcast, SPX was around 1970.70 up 9.07 today. It recently broke down through support, but the has since recaptured those levels. Still, it appears to be in a “resistance zone,” according to Michael. It looks like it might be testing the breakdown rather than starting a new bull run, but that remains to be seen. It could be entering into a sideways market.
It is below its 50 day moving average of 1972.33 and above its 200 day moving average of 1909.97.
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Brian Overby’s paper trade strategies based on Michael’s analysis -
Long Call Brian’s Paper Trade - Long Call (short term, speculative) Brian’s Paper Trade - Long Call (longer term, slightly less speculative) TradeKing Options Tools used:
- Detailed Quotewww.tradeking.com/events www.tradeking.com www.TradeKing.com/ODD additional risks and multiple commissions Commissions + Fees page
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