TradeKing Midday Market Call Recap - SPX, ABX
Recap for Tuesday, November 4th by Kevin Corrigan
Did you miss Tuesday’s TradeKing Midday Market Call? Here’s a quick recap. Don’t miss another session, register here today!Analysis of S&P 500 from QuickTakesPro’s Michael Kahn:S&P 500 (SPX) – At the time of this broadcast, SPX was around 2005.86 down 11.95 today. It has moved past its 50 day moving average of 1968.74 and it is above its 200 day moving average of 1914.03. It was up at new highs, then had an indecision day, followed by a down day. One thing to note is that when it hit new highs, the volume was low. It appears to be “balking at these new highs,” according to Michael. The market could be waiting for election results and anything unexpected could change things.
The Chart of the Day is Barrick Gold Corp (ABX) -
Analysis of ABX Volatility Chart and Dividends from TradeKing’s Brian Overby -
Technical tools used:
Brian Overby’s paper trade strategies based on Michael’s analysis -
Brian’s Paper Trade - Bull Put Spread
Brian’s Paper Trade - Long Call Spread
TradeKing Options Tools used:
- Detailed Quote
- TradeKing Options Pricing Calculator
- TradeKing Probability Calculator
additional risks and multiple commissions
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