fxtrader66
Long

Buy SPX on rumor of debt ceiling resolution.

FX:SPX500   S&P 500 Index
91 4 1
Levels I am looking to buy 10/15/2013

the 0.125 is at yesterdays NY close, if this level is still holding by NY open, price could keep on rallying. Next levels I am looking at are the support zones.

I believe this market could keep on heading higher on the belief the US debt ceiling will be resolved.

If the market keeps on rallying on rumors of a debt ceiling resolution, we could see the market spike into a new high on the announcment of a resolution into thursday friday, making a new all time high, then see another pulllback to enter the trend to go long.
I am searching what is SPX in google -
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alex.a alex.a
It is S&P 500 index. Then what is SPY? It seems the same, right?
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alex.a alex.a
I found it SPY(index) has more volume, 1.2 million change hands each session but SPX (ETF option) has more value.
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Look for a possible break of the 78.6 fib at 1715.4. My though is if price can clearlly take out this level out today, it would be a good indication price is heading higher. Alt - 78.6 acts as resistance, I am looking for support at the levels noted on the chart.
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