Update on S&P technical levels

S&P futures have bounced sharply over the course of this week – but that comes after an even sharper sell-off in the previous week.The net result of all this gyrating is neutral results.

The most recent bounce has the “minis” approaching the first of two potential resistance levels at 2,677.50 – with another potential layer of resistance up at 2,686.50.

If resistance holds, expect another sharp sell-off to the recent lows and potentially new short-term lows.

We would be shorting this bounce up at 2,677.50 with stops on a 240-minute close above 2,687 and with a downside target of 2,445.

Only buy dips if we get a breakout above 2,687 and subsequent pullback / retest of the breakout level.

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Excerpts from late Sunday night research

  • Stocks peaked out this week right at the 2,718.50 level noted in Wednesday’s update. Since then, the sellers have been in control. For them to stay in control, though, we would need to see a close below 2,659.25. If not ...
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UP 30% YTD, HERE'S OUR LATEST WEEKLY NEWSLETTER...

Coverage of the following markets included this week:

  • S&P e-Minis
  • Gold
  • Silver
  • Coffee
  • Sugar
  • Soybean Meal
  • Wheat
  • Corn
  • Soybeans

Subscribe for daily trade updates and weekly comprehensive coverage of the global markets. PEAK ANALYTICS AND CONSULTING TEAM

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Latest technical read on the futures markets just out!!!

We just put out our weekly read of the global futures markets via The Fintec Factor. Covered this week: stocks, gold, crude oil, coffee, sugar, soybean meal, wheat, corn and soybeans. Click here to sign up for a trial: https://marketfy.com/item/sea-changes-global-marke...

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Latest technical report on global markets just out!!!

Covered in this week's report: stocks; gold; Treasuries; coffee; sugar; soybean meal; wheat; corn; and, soybeans. Check out our service at https://marketfy.com/item/sea-changes-global-marke...

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Weekly look at the global futures markets just out....

I just released my weekly look at the futures markets - with important updates given Irma's arrival. Covered: stocks, gold, copper, crude oil, coffee, sugar, soybean meal, wheat, corn and soybeans.

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Just released - The Value Technician's List for September

Subscribe to Direction First service today for The Value Technican's List: https://marketfy.com/item/sea-changes-global-marke...This month: 11 stocks with these avgs: Yield 2.55%; PS 1.79; PB 1.79; PE 14.67; CR 3.18; DE 46.92%; ROE 11.37%; 9 sectors.

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Peak Analytics' Direction First Newsletter just released

For a free trial of our Direction First service, visit: https://marketfy.com/item/sea-changes-global-marke. This week, we covered: ES futures - breaking ST resistance and heading to highs; GC futures - tested 1336 target and pulling back - buy dips; CL futures - ...

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The premiere of The Value Technician's List has been released

Check out the most recent newsletter release (on 8/21) for the stats and entry / exit info for each of the stocks on our premiere Value Technician's List:

PEG - Public Service Enterprises
FL - Foot Locker
ETN - Eaton ...
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Crude Oil update - feeling the pain, but seeing the light

Crude oil has gone WAY further than we thought this week - for obvious reasons.

Here's an updated daily chart of crude:


Our wave count was apparently "off" and this bounce in crude has been a painful ride in the ...

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Correction on last UCO trade note....

The 240 minute ceiling should actually be 53.30 - not 53.24.

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Trading lessons from the last 48 hours of nonsense

Here's how I came up with the 51 and 67.5 levels of late-day resistance today:

ExtremesClosesRange of Resistance
High2119.52113.25
Low1981.51982
Difference138131.25
50% move6965.75
61.8% move85.581.25
50 % Retracement ...
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Reviews Average Rating          

         
Excellent advice these last turbulent months...
         
Wide stop loss and small at profit taking but that's their style.
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