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Recap for Tuesday, March 31st by Kevin Corrigan
Analysis of S&P 500 from QuickTakesPro’s Michael Kahn:
Did you miss Tuesday’s TradeKing Midday Market Call? Here’s a quick recap. Don’t miss another session, register here today!
S&P 500 (SPX) – At the time of this broadcast, SPX was around 2075.99, down 10.25 today. It hit new highs last month, dropped and didn’t quite get there again this month. However, “the long term trend is up, the 200 day moving average is up and the 50 day moving average is up. The point is, all the major signs point up,” Michael stated. “Short term is choppy, but that is where we are at this point in time.”
SPX is just above its 50 day moving average of 2072.14 and above the 200 day moving average of 2012.31.
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Brian Overby’s paper trade strategies based on Michael’s analysis -
Long Call Calendar Spread Long Call if Brian’s Paper Trade - Long Call Calendar Spread Brian’s Paper Trade - Long Call (if stock breaks out above 165.20)
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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