The S&P500 Emini futures (ES) are currently at 2879, and the day low was 2867.50
Our Emini Futures Trading Strategy is to stay long above 2880 with stop loss 2860 for upside targets of 2930-2950. It is important for the futures to close above 2880, because there is a strong resistance at that level, and it was also the breakout level. A failure to cross 2880 will make it a double top at 2880 – with one top is Jan 2018 and the second top in Sep 2018, which has major implications, with downside targets of 2400-2500 level. Therefore, traders have to be very cautious at the current level, because we are dealing with a major top here and it can make or break the market in the coming days.