Tuesday September 22, 2014 – Daily Market Update

In yesterday’s weekly market update, I identified
1,984.40 as a level of support for the S & P 500.

You can read it here …


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I bring up this level of support up because as I write this,
the S & P 500 is trading right at that level.

Now the question is will this hold?

I am sure that is your question as well, because if you
knew the answer to it, you could position yourself
to make some money.

There is an indicator I look at to help determine
if this level will hold as support.

And no, it is not a technical indicator. Though they
can help.

You see, I have found that knowing where you should
expect a reaction, in advance, can put you in an
enviable position.

Most people who trade the markets do not have a clear
understanding of where key support and resistance
should be.

By knowing these levels, in advance, you can position
yourself and look for the confirmation.

Then you take the trade. But, only after confirmation
is received.

We shall see if it holds. But, I also know if it doesn’t,
that is telling us something significant as well.

Namely, the market should head lower and you can
capitalize on that as well.

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