Recap for Tuesday, October 21st 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 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.
The Chart of the Day is Baker Hughes Inc. (BHI) -
Analysis of BHI Volatility Chart and Dividends from TradeKing’s Brian Overby -
Technical tools used:
Brian Overby’s paper trade strategies based on Michael’s analysis -
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 Quote
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