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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 2008.02 up 18.39 today. The red line from the previous high in September is the key level at about 2020 that was acting as support. It broke below that and has remained below the past two days. It could have a reversal today, but it usually doesn’t mean anything unless there is follow through tomorrow.
It is well above its 50 and 200 day moving averages of 2002.11 and 1947.63, respectively.
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The Chart of the Day is Bed, Bath and Beyond Inc. (BBBY) - Analysis of BBBY Volatility Chart and Dividends from TradeKing’s Brian Overby - Technical tools used:
Moving Averages Brian Overby’s paper trade strategies based on Michael’s analysis - Long Call Short Put Spread Brian’s Paper Trade - Long Call (shorter term) Brian’s Paper Trade - Short Put Spread (longer term)
TradeKing Options Tools used:
- Detailed Quote
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