The Emini S&P500 Futures are showing correction since yesterday, 10th June 2019, and it has to be expected after such a good recovery rally last week, from the low levels of 2730 to 2900, covering 170 points in 1 week, which would make it one of the fastest rallies ever! The S&P500 lost 230 points in 1 months, and gained 170 points in 1 week. This is the sign of a bullish market, and our aim should be to go long on various corrections.
Our S&P500 Trading Strategy is to buy around 2850 for Target 2950-3000 with Stop loss 2800. All longs should be closed below 2800, and they should be reopened above 2810-2820. The upside target for year 2019 is 3000, and it has not changed since Jan 2019, when the futures were near 2530.
Currently, profit taking is happening, and we should wait before doing fresh buying.