Recap for Tuesday, October 14th 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 1897.22 up 22.55 today. It broke down below its 200 day moving average of 1895.65 recently. It also broke down from the term support level going back to August. It does appears to be in a little bit of a rebound now. However, it may be just a short term bounce. All the other major indices have also broken down and seem to be in a similar pattern. They could be short term oversold.The SPX is also well below its 50 day moving average of 1970.39.
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The Chart of the Day is Charles Schwab Corp. (SCHW) -
Analysis of SCHW 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 (Longer term, less speculative)
TradeKing Options Tools used:- Detailed Quote
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