The S&P500 Emini futures closed at 2169.50 while the S&P 500 index closed at 2170.95. The futures discount has narrowed a lot in recent days to just about 2 points from about 9 points a month back. As indicated in the above chart, 2140 is strong support because 2134 was the previous high and now it is the base.
Our analysis is that S&P 500 index will test 2200 once and any major fall can happen after that or on the very same day that 2200 is tested.So the trading strategy is to remain long, and buy the dips and sell at 10-15-20 points gain.
So here’s a bonus trade for all website visitors:
We can buy Emini futures at 2163 for 2197 target with 2150 stop.