S&P500 Update 10/10/2014

S&P 500 Update for 10/10/2014 in market hours...

Last Update on 09/10/2014 in market hours......

"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."

For 09/10/2014 index opened at open was high for the day at 1967.68. Level to watch was 1961.02 also our level for positive trend bias was 1963.14. So we had double confirmation for intraday shorts.
So shorts taken at 1961 and targets of 1947.53-1937.49 (both given in update and further targets of 1933.76-1927.16 were seen on angle as supports. Intraday low was at 1927.56 and we covered shorts at 1928.31. Profits were at 1961-1929=32 points.

For 10/10/2014 we had resistances at 1933.47-1938.06-1948.39-1961.02 and supports are at 1926.87-1922-1920.27. The level of 1920 is to be closely watched for the day which another important level for the index.

Happy Trading !!!