Hello Folks, the S&P500 Emini futures are at 2901.50
Today’s Range: 2983.75 – 2916.50
Nobody likes weekend volatility, but it’s here today morning!
The S&P500 futures fell sharply on Sunday night after US President
Donald Trump shocked investors by threatening to hike tariffs on $200
billion worth of Chinese goods, raising fears of a global slowdown and
halting a relative period of calm in the markets. The S&P500 futures fell
about 60 points overnight after the Wall Street Journal reported that
China may cancel a round of US talks this week after Trump’s comments.
In other words, volatility is back! And we can benefit from it by getting
a suitable entry point. The S&P500 is still in uptrend, and the target of
3000 is intact. Most stop losses would have hit by 2900 level. Today’s low
of 2883 is the level to watch, so the key support level currently is near
2990 level may get tested once more before futures move up and
test higher levels of 2920 level. This trade is based on that move. And we
have a stop loss 2880, given to us by market action today morning.
[Bonus Trade] Buy at 2880 for Target 2900 with Stop loss 2860.
Trade update: This trade hit target within the same day.