Last Updated on 25/09/2014 ...
"S&P500 will face stiff resistance at 2003 levels breaching it we
will continue our longs or we may book profits at that level (2002.71)
and reverse.
On the downsides the targets/supports for 25/09/2014 in a reversal
scenario below close of 1998.30 or 2002.71 are 1986.16 and 1975.88 ."
S&P 500 opened gap down and we reversed our trade to short at open of 1997.32 on 25/09/2014.
Huge intraday profits on it with all targets given above achieved with intraday low at 1965.99 .
On 26/09/2014 with open as low we were long above 1975.88 and booked profits at close of 1982.85 as we could not close above the resistance at 1986.16 ( high at 1986.36 earlier support ).
On 29/09/2014 we were short with gap down opening at 1975.88 and our stop loss of low of 26/09/2014 at 1966.22 was hit.
On 30/09/2014 we were long on gap up opening at 1978.21 and we hit stop loss of 1975.88 and reversed at same price and covered at close of 1972.29 . No open position on close of 30/09/2014.
We have critical support at 1963.14 breach of which will be bad for S&P 500 and any chances of recovery. Longs only above 1975.88 and shorts below 1963.14.
Happy Trading !!!
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