Tuesday, November 24, 2015

S & P 500 Futures to test support this morning

S & P 500 Futures are down 14 after reacting to Nato member Turkey shooting down a Russian warplane near the Syrian border.

As we all know, traders hate the unknown.  And as we've seen many times before, these geopolitical events cause an increase in market volatility as the story plays out and new information is deciphered and analyzed.

However, the good news is that we've also seen technical levels provide clarity during these times of unknown fundamentals.

Like a pilot uses his instruments to fly through the fog, use the charts this morning to trade these events.

3 important levels are bunched up and sit right below us:

2062 has been a huge level since Spring.
2061.47 (grey line) is the 9 dma.
2059 (yellow line) is the 200 dma.

If the market continues to sell off at the open over geopolitical fears, 2062 is a great place to get long for a trade back to the important 2079 level.

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