Friday, January 9, 2015

SPX Daily Chart

The SPX 20-day MA is 2046.01. The 50-day MA is 2045.00. The 200 EMA on the 60-minute chart is 2046.83 (a Keystone short-term signal). Price is at 2044.81. The SPX will bounce or die from this 2045-2047 confluence of support on Monday. The Nasdaq has the same set up. The VIX is sitting on the 200-week MA and will bounce or die (volatility moves inversely to the SPX). This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

On trading, late in the session, Keystone bot BTU, a coal sector knife-catch, opening a new long position. The daily and weekly charts are setting up with positive divergence so price should base over the coming week or few. Coal plays such as KOL, BTU, ACI and WLT are beaten down for a couple years and are possible long trades as the charts set up more favorably. Keystone also bot VJET opening a new long position in this dangerous and speculative 3-D printing stock. VJET is setting up with positive divergence and is another knife-catch long play.

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