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  • S&P 500 2/7/2014 12:59 PM: Guesstimates On February 7, 2014

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    Nino Vieira
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    The S&P 500 showed a continuation of its intraday rebound, with 1749 acting as the pivot point. The preference is for long positions above 1749, targeting 1781 and 1793, though a downside break of 1749 could lead to 1737 and 1718. For today, the March S&P E-mini futures range is estimated at 1767-1788, and strength above 1789.25 could send it up to 1846.50.

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    The S&P 500 showed a continuation of its intraday rebound, with 1749 acting as the pivot point. The preference is for long positions above 1749, targeting 1781 and 1793, though a downside break of 1749 could lead to 1737 and 1718. For today, the March S&P E-mini futures range is estimated at 1767-1788, and strength above 1789.25 could send it up to 1846.50.

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    7 views1 page

    S&P 500 2/7/2014 12:59 PM: Guesstimates On February 7, 2014

    Uploaded by

    Nino Vieira
    The S&P 500 showed a continuation of its intraday rebound, with 1749 acting as the pivot point. The preference is for long positions above 1749, targeting 1781 and 1793, though a downside break of 1749 could lead to 1737 and 1718. For today, the March S&P E-mini futures range is estimated at 1767-1788, and strength above 1789.25 could send it up to 1846.50.

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    S&P 500 1 week Trend: (=) S&P 500 intraday: continuation of the rebound.

    Pivot: 1749

    2/7/2014 12:59 PM 1 month Trend: (=)

    Our preference: LONG positions above 1749 with 1781 & 1793 as next targets. Alternative scenario: The downside penetration of 1749 will call for 1737 & 1718. Comment: technically, the RSI is above its neutrality area at 50. Trend: ST Bearish; MT Bullish Key levels Comment 1806** Intraday resistance 1793** Intraday resistance 1781** Intraday resistance 1773 Last 1749** Intraday pivot point 1737** Intraday support 1718** Intraday support

    Guesstimates on February 7, 2014


    March S&P E-mini Futures: Todays range estimate is 1767-88. If the ES shows strength above 1789.25, the midpoint of the drop from 1846.50 to 1732.00, I will conclude that the market is headed to 1846.50 and higher. QQQ: Downside target is 82.00. Euro-US Dollar: Unless and until 1.37 is breached on a closing basis I will stick with the 1.33 downside target.

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