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Recap for Tuesday, November 18th by Kevin Corrigan
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 2068.30 down 1.11 today. It appears to have stalled near its highs. No real movement appears to be happening but the 14 period RSI is suggesting that it could be overbought in the short term. Support level could be around 2020. This is the only real interesting level that the chart is showing. If the market closed below that level, it might be a sign of weakness for the market.
It is well above its 50 and 200 day moving averages of 1983.28 and 1933.33, respectively.
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- Moving Averages - Trendlines
Brian Overby’s paper trade strategies based on Michael’s analysis -
Long Call Short Put Spread Brian’s Paper Trade - Long Call Brian’s Paper Trade - Short Put Spread
TradeKing Options Tools used:
- Detailed Quote
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