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The S&P 500 Is Stuck In A Tight Range As Bulls And Bears Battle It Out

Saturday, January 14, 2017 7:25
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(Before It's News)

From Corey Rosenbloom: In the battle for market dominance we still don’t have a winner. Bulls? Bears? Nada.

Instead we remain trapped at the highs in a volatile sideways trading range.

Here’s today’s updated S&P 500 Emini (@ES) trading levels for your trades:

Supply and demand move price; it’s nothing magical.

Right now we’re at a critical reference area – 2,270 in the @ES which is just under the all-time high.

Buyers want to extend the market higher with a breakout, and they’ve countered each of the three recent sell-offs of the bears.

With neither side victorious, we’re seeing volatility increase and our Fibonacci Levels serving as targets and short-term inflection (reversal) points.

If you’re new to this style of simple level trading, welcome aboard and keep checking back or get more details beyond just the @ES (stock scans, money flow, education) by becoming a member!

The SPDR S&P 500 ETF Trust (NYSE:SPY) closed at $227.05 on Friday, up $0.52 (+0.23%). Year-to-date, the largest ETF tied to the S&P 500 has gained 1.57%.

SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 109 ETFs in the Large Cap Blend ETFs category.


This article is brought to you courtesy of AfraidToTrade.com.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)



Source: http://etfdailynews.com/2017/01/14/the-sp-500-is-stuck-in-a-tight-range-as-bulls-and-bears-battle-it-out/

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