Hello Folks, the S&P500 Emini futures closed at 2456.50
Today’s Range: 2442.00 – 2461.25
The futures have broken out of the 2400-2450 range, which had in been in place for last 6 weeks. As I stated in various emails earlier, we have a long view with target 2500, so the futures are moving as per analysis. The futures have tested 2420 and 2430 levels multiple times in last 6 weeks, so crossing 2450 today is not a surprise at all. However, a retest of 2450 is likely before further upmove happens. The futures faced selling pressure at 2460 because of profit taking ahead of the weekend.
Traders with 1-2 contracts: There is no new trade as of now.
The set up is not reliable, and 10-20 point stop loss can get hit.
Traders with 5-10 contracts:
The following Optional/Tactical trade (from Wed, July 12) is currently on.
“Buy Emini Futures at 2440 for Target 2480 with Stop loss 2410.”
[Bonus Trade] Here is a new optional/tactical trade.
“Buy Emini Futures at 2455 for Target 2468 with Stop loss 2442.”
This trade can be done with 1-2 contracts. Thanks.