Hello Folks, the S&P500 Emini futures are at 2745.00
Today’s Range: 2705.50 – 2748.00
The futures defended 2700 level again today, and then moved up rapidly after the second successful testing of 2700 level. We are fortunate that 2700 stop loss was not hit, though the futures came close to it a couple of times.
Trade#5 of June 2018 has hit target of 2747 today, and this trade has given a gain of 22 points, from our buying at 2725 on Monday.
From the sharp fall of nearly 50 points on Monday to profit on Wednesday – thanks to the inherent fundamental strength of S&P500 index. We had existed the previous trade at 2784 last week, which really helped us save capital in the sharp fall on Monday.
The S&P500 trend us up, therefore our S&P500 Emini (ES) futures trading strategy is to stay long and buy on corrections nearer to strong support levels. There is no immediate trade as of now. A new long trade can be considered on closing above 2760. So we will wait and watch. Thanks.