Hello Folks, the S&P500 Emini Futures are currently at 2367.75
Today’s Range: 2354.00 – 2369.25. So the futures fell down till 2354 in the afternoon session, and cleared out many of the remaining longs, and then did a very bullish reversal move, which we were waiting to see last few days. 2360 has been successfully tested for now, and lower level stop losses are unlikely to get hit in the next couple of days. The reversal move in last 2 hours is high quality and we can expect 10-20 point upmove based on how the pullback happened from lower level of 2354 intraday. Many stop losses would have got hit in the 2354 to 2360 band and when the futures bounced back, some of those traders were buying back, and some of the late shorts below 2360 would be rapidly covering their shorts around 2365.
Here are two Bonus Trades, which can be used by all our website visitors.
(A) Buy Emini Futures at 2368 for Target 2378 with Stop loss 2358.
(B) Buy Emini Futures at 2368 for Target 2388 with Stop loss 2358.
These trades may be done with 1-2 contracts each.
Our Emini Futures Trading Strategy for the month of March 2017 is to remain long above 2300 and buy the corrections for 10-20 point gain, with 10-12 point stop loss. Thanks.