S&P500 PreMarket Price Action
Overnight prices moved to test the 1037.50 area of support, while finding support price has turned and is moving back to test the 1046 area of resistance. Today’s price action could see price test the 1048 area of support with 1050 and 1054 to follow with the buys controlling the day. To the low side we could see price retest out 1037 area of support and with some volume perhaps move through to test 1020.25 and even 1011 area with good seller volume.
S&P500 PreMarket Price Action
With Friday’s trading see just about every level possible for the day, the buyers came in aggressively after 10am and took prices from 1037.00 support back up to 1066 area before close. Today’s range could tighten with support in at 1060 and 1054. With a push of volume we could see 1049 area of resistance again. To the high side we could see price fight with resistance on the 1065 area and with a breakthrough resistance there price could move to retest 1072 and perhaps 1077.50.
S&P500 PreMarket Price Action
Prices moved back up through overnight trading to test the 1055 level. Yesterday saw some lighter volume and still closed down, on the 1044 support. With another drop in volume today’s trading could see a possible retest of the 1060 levels, possibly even 1065.50 with an extreme high in at 1071.50. To the low side we could see price move back into the 1044 levels, and with a end of week sell off and some commitment price could see a retest into the 1036.50 area again. If the sellers have what it takes to push price through the 1036.75 area of support, I have 1020.00 as the next area of suooprt in the move down. Let’s see who shows up today. See you at the starting
line!
