Hello Folks, the S&P500 Emini futures are currently at 2254. The futures have moved from low of 1980 to 2250 this week – that’s 70 points in a week, a very good upmove indeed!
Different traders should have been able to capture different number of points based on the trading strategy recommended to them, but everybody should have made some profit in this upmove.
For example, Small traders with 1-2 contracts were asked to buy the futures at 2234 for target 2247 with stop 2226, and that trade completed within 24 hours, giving 13 points gain. Large traders with 5-10 contracts should have started long positions automatically above 2200 for target 2234 with 2180 as Stop Loss, getting at least 30-35 points gain per contract between 2200 and 2247.
In fact, a similar long trade was suggested as a Bonus Trade on Nov 22, 2016 and hence available to all our website visitors for free. Please see the previous post titled: S&P500 Emini Futures Hit 2200 Today!
Nov 22, 2016 Bonus Trade: Traders can remain long above 2200 for target 2220-2230 and 2190 as stop loss.
What happens next? After 70 point non-stop upmove, there can be some pause or profit booking. The Technical target for this upmove is 2260, which is just 6 points away from current price of 2254. For us, there is no new trade currently. There is a sell signal on the hourly charts with potential target of 2232, which could come next week after the US Fed Meeting updates on Interest Rate policy, when markets will try to adjust to the news and volatility can come back. So we will wait and watch for the next opportunity.Thanks.