Hello Folks, the S&P500 futures are at 3289.00
The futures went down till 3240 with gap down today morning and by end of day, they bounced back sharply to 3289, and there by closed above 3280.

Update on previous Bonus Trade:
“Buy at 3290 for Target 3320 with Stop loss 3270.”
This trade of yesterday did not trigger with limit buy order at 3290 because the price did not go to 3290 before going down. But many traders also bought at market price at 3287-3288 level, and the stop loss was hit at 3270.

Then we had the big gap down today morning, which blew away many long positions across the market, and that also explains the sharp recovery at the end of the day because the market had become lighter with fewer long positions, and all the traders who got hit with stop loss today morning, were trying to get back into their long positions once the price started racing above 3260-3265.

Important point is this:
The futures are back above 3280, so have to get long again in some way. We want to stay long above 3280 – its the key support level we had mentioned in my mails. See how the futures bounced back above it by end of today – that indicates bullish strength. Our SP500 Trading Strategy is to remain long above 3280. So we want to get back our long positions at any price between 3280-3290. The upside of 3320-3330 is on again, as we are above 3280 now.

[Bonus Trade]
“Buy at 3280-3290 for Target 3320-3330 with Stop loss 3270”

I have given buying range and selling range so that you can buy/sell in parts if you want, like 1 contract at 3290 and another at 3285, etc, or you can buy in one shot and keep 3325 as the Target. There will also be a General Trade from 3300, which we will share in another email. Thanks.