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Economic Analysis Day Trading News: S & P 500 May 21, 2010

Understanding of market direction and activity economic will take you to profitable trades. Keeping with our live news and trends with Tradermongers.com!

S & P 500 pins

On Thursday the U.S. indexes is May then sell the philosophy. All the major indexes were down for days amplified by the European debt crisis, the oil spill in the Gulf, and the recent crash of 1000 points in the Dow. After a third day to sell could be a possible rally by maturity options tomorrow, and traders and investors out of their short positions before the weekend.

The S & P 500 in the 5 minutes chart fell for a third straight trading below the 144 and 200-day moving averages. The 200-day moving converge average with the previous low in 1101 Wednesday so expect resistance between 1100 and 1101 is on the trading day Friday. The products are weaker due to above events and a possible slowdown in China will empty global growth. Today's jobless claims were released and a jump 25k to 471k not encourage U.S. equity markets.

Currently the index is below 200 day moving average on the chart daily. We told our readers before the S & P 500 is currently in a correction. In the daily chart of the index is currently operating for below the resistance level of 1121 in January 2010. The first resistance level is 1100 and 1101. Expect the S & P 500 for resistance to breakage of the second level of resistance between 1117 and 1120 and that area is below the pivot level of 1121 in January 2010. We had a day three selling in equities as we approach Friday's trading day. Tomorrow, expect a mini rally due to options expiration.

The Market Volatility Index (VIX) measures the activity of choice within the market and is widely used tracking the S & P 500. The increased volatility implies pessimism in the market and sell stocks as traders and investors seeking protection their assets rather than liabilities.

A common trading strategy for traders and investors VIX includes a level of 30 or more means a transition actions immediately effective. Traders and investors are pulling out of markets and the pursuit of security and safety in the dollar. Today The VIX is above the 144 and 200-day moving averages on the daily chart. While we remain above this level of pessimism expect as we approach the slow summer.

Summary of pivot and technical levels:

1219: S & P 500 52 Week High

1101: 200 days moving average of Fibonacci, 5 minute chart

1100: Natural Resistance Level

1096: 144 days moving average Fibonacci, 5 minute chart

1127 - 1141: High level of resistance for the S & P January 2010

1117: 144 days moving average Fibonacci on daily chart

1085: 200 days moving average on daily chart Fibonacci

Friday Schedule Economic:

There are no scheduled economic data

Resignation

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About the Author

Shamim Ziyaaudhin is one of the editors of TraderMongers.com a one stop trading news feed source for worldwide traders and investors. Their philosophy is to establish the standard for providing market news feed that is comprehensive, accurate, and concise. Providing technical and fundamental trading setups, economic numbers, and calendar events throughout the trading day. Shamim has a Masters in Business Administration from Fairleigh Dickinson University and holds a degree in Psychology from Rutgers University. Click here to subscribe to Tradermongers E- News

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