S&P 500 Update 09/10/2014

S&P 500 Angles Chart Updated upto 08/10/2014 ....

Last Update on 08/10/2014 pre-market ...

" For 08/10/2014 1937.78 is the level to be watched as pivot with resistance at 1947.24 and 1961.30. Supports at 1934.05 and 1927.43. Earlier low was at 1926.03 another critical level."

For 08/10/2014 supports were at 1934.05 and 1927.43. Also critical level of 1926.03 was given in pre-market analysis.

Low on 08/10/2014 was at 1925.25 and huge reversal seen in markets. Break of first support level at 1934.05 we were short for intraday trade for target of critical level of 1926.03. We achieved our target of 1934-1927 = 7 points. Also we went long again intraday safely above the first support level of 1934.05 and our target was maximum to the level given on chart 1963.14 and market made high of 1970.36. The second angle resistance of 1967.61 is were one could have booked profits. So profits of 1967-1935=32 points . So total intraday profits of  7+32=39 points. So for today again the level of 1963.14 was critical which we will analyse tomorrow.

For Today i.e. 09/10/2014 watch the level of 1947.53 as first support and 1937.49 as second support as per angles and intraday trend is negative below the level of 1961.02. As per swing geometry if this swing is to continue ahead it should not break below the level of 1940.

Happy Trading !!!