Thursday, October 16, 2014

S&P500 Update 16/10/2014

S&P 500 angles chart updated 15/10/2014...

Last update on 14/10/2014 market hours...

"Intraday for 14/10/2014 positive bias only above 1906.28 with initial resistance at 1920 levels.
On the downside supports at 1848-1845 levels."


We did not hit the levels of 1848-1845 on 14/10/2014 but they were hit and broken on 15/10/2014.
But the recovery was also good at the end of the day with close at 1862.49 and panic low of 1820.66.


For 16/10/2014 we have positive bias above 1834.16 and resistance at 1849.97. The safe level for sustained recovery will be 1867.68. Weekly close above this level may auger well for next week if sustained above it for the week.




Happy Trading !!!



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