Recap for Tuesday, December 2nd by Kevin Corrigan
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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 2063.21 up 9.77 today. It appears to have stalled near its highs. It finally broke its string of consecutive closes above its 5 day moving average yesterday. It is still a rising trend and RSI is no longer suggesting it is overbought. However, Michael notes that he, “...wouldn’t make any commitments in any direction right now.”It is well above its 50 and 200 day moving averages of 1988.02 and 1937.96, respectively.
The Chart of the Day is Tesla Motors Inc. (TSLA) -
Analysis of TSLA 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 Put Spread (shorter term)
Brian’s Paper Trade - Long Put Spread (longer term)
TradeKing Options Tools used:
- Detailed Quote
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