#SP500 futures are at 3058 currently.
Stay long above 3000 for Target 3100-3120.
Buy on corrections towards 3030 increase gains.
#SP500 futures trading levels for June-July 2020.
– Major Support is at 2450.
– Major Resistance is at 3250.
Category Archives: Bonus Trades
Emini Futures Trading Analysis- 27May2020
The S&P500 futures are currently at 2976.00 and down by 60 points from day high.
Today is the second day of the S&P500 futures trading around the 3000 level, which is also their 200 day moving average. Our tactical trading target of 3030 was hit today morning, and the futures went up till about 3035 and then faced a sharp 70 points correction from there to 2965.
The parabolic upmove of today morning got broken and the entire upmove of today got liquidated. Please see the charts below. The warning sign for a reversal of the entire upmove can once the parabola was broken below 3030, and the futures fell down till 2965!!
All this part of the 200 DMA testing at 3000 level. Nobody should expect a smooth run away rally from this very key level. This 3000 level is a major target, and also major resistance, when we are approaching it from below.
The S&P500 (or SPY) call options data indicated very high call options build up, which is usually not helpful for fresh upmove at key levels. So traders must be cautious here. Please keep 2950 as stop loss for any long position.
[Bonus Trade] Here’s a rapid tactical trade, for a bounce back.
Buy SP500 futures at 2975 for Target 2995 with Stop loss 2960.
Emini Futures Trading Analysis- 11May2020
Hello Folks, the S&P500 Emini Futures are currently at 2937. They have moved up further after the end of day upmove on Friday, when they closed above 2920. The futures have hit 2940 early today morning.
There is a short term resistance around 2940 level, as you can see in the above chart (black line). The parabolic uptrend has also broken in the short term (gray line). So, we have to wait and watch for next few hours.
The above chart shows how the resistance at 2940 prevailed and the futures went down till 2890, a correction of 50 points.
The S&P500 futures trend is up above 2830, and 2880 is a critical level.
Our S&P500 Emini Futures Trading Strategy is to stay long above 2880, and exit all long positions below 2880. Meanwhile, 2900 can be used as a stop loss for most long trades, or for creating new long trades with 2880 as Stop loss.
[Bonus Trade#1] Buy at 2920 for Target 2960 with Stop loss 2900
Trade Result: Stop loss hit.
[Bonus Trade#2] Buy at 2900 for Target 2950 with Stop loss 2880
Trade Result: Trade in progress.
Emini Futures Trading Analysis- 29Apr2020
Hello Folks, the S&P500 futures are at 2934.00
Today’s Range (so far): 2870.75 – 2935.25
The futures have bounced back today after hitting our Stop loss at 2880 yesterday, during the unexpected 70 point fall from 2913 till 2851.
Unfortunately, our carefully selected General Trade hit 20 points stop loss yesterday (though it was with only 20% position size). And now the futures have gone up and hit 2930, the target we had for that trade. It
feels bad to be in that situation. In normal markets, we may have bought back the futures 20 points below stop loss to reestablish the positions, but the current market can go anywhere rapidly, so we could not take that risk.
2880 is the critical level and the futures bounced above it in early morning trade. Near-term targets are 2930, 2950 and 3000, but the volatility is still high to do a General Trade. In addition, the US Fed meeting notes will come today, which can move the futures rapidly up/down. Continue reading
Emini Futures Trading Analysis- 24Apr2020
Hello Folks, the S&P500 futures are at 2827.00
Today’s Range: 2755.00 – 2834.50
The S&P500 futures came till 2836 yesterday, and then sharply fell to 2785 within 3 minutes after negative news related to Coronavirus vaccine. It was a 50 point cut in 3 minutes, which would have taken out a lot of stop
losses. The futures went till about 2755 yesterday but did not break 2750. That is positive, and they are again up today at nearly 2830. This is a bullish sign. I think the futures will test 2900 in the coming days.
The major resistance has been around 2850-2880. Above 2880, this resistance will be taken out, and S&P500 Trend will be firmly up. We may get a chance to do General Trade (for all Traders) above 2880, even if its with a smaller position size. I am watching the market closely to see how can we use the current bullish setup of today for our trade next week. Above 2900, the target will be 2930.
[Bonus Trade]
“Buy at 2880 for Target 2930 with Stop loss 2850”
The above trade will trigger at 2880 and has 30 points risk for 50 points reward. All trades should be done with smaller than usual position size because of volatile markets. Thanks.