Hello Folks, the S&P500 Emini futures are at 2881.00
The S&P500 futures made a new high above 2950, but the buy signal for short term trade was not there, and as you can see today, if we had bought around 2940-2950 last week, when it looked like a strong uptrend, then no stop loss could have saved us this week. A strong buy signal will come back again above 2980, which is far above the current level of 2880! S&P500 index has strong supports at 2840 and 2820 level, which should hold. If 2820 level breaks, it will cause lot more selling, and we may see retest of the 200 day moving average, which is currently at 2770. Thanks.