A faint light is often all that is cast upon truly outstanding positioning strategies before they ready. Fundamental analysis, awareness of monetary policy developments, positioning conditions and other trend characteristics followed allow candlestick charting analysis to shine needed illumination. Martin B. McGuire
Friday, May 8, 2015
Whoopee, S&P 500 Index Recoveres 2-Day Slide
The S&P 500 Index has
recovered 1.25% today, arguably a very strong performance.However, if one is willing to look at the
recent performance with a wider lens, he might note that the failed attempts at
the late-February high have not been resolved. This recovery today and yesterday is just
that, a recovery from weak price action.As such, it should not be afforded particularly positive attributes.Instead, we would note that the S&P has
not delivered for the last three months and while it may rally forth from here,
traders have benefited from respecting resistance toward current levels (2112).
For those who believe the debate
on resistance at 2112 shall be resolved in short order, one might look to the
short dated May Emini put spreads (6 days).They may offer good protection or positioning opportunity.