Tag Archives: SP500 Corrrection

Emini Futures Trading Update- 04Jun2019

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Hello Folks, the S&P500 futures are making a very bullish move after a month long fall in May 2019. Nice to see a lovely green day after many red days! And 2800 level is back! This was given as a target at 2750, and it has come within 48 hours.

#SP500 futures are currently at 2805, well above their 200 day moving average of 2770, so we are back on positive ground again, and from here, the default direction is up. Immediate target 2825, which would be 100 points up from yesterday’s low of 2725, so 20 points upside is clearly visible before any major profit taking comes.

There is an old resistance at 2830, which is also now coinciding with 20 day moving average, so we should expect a pause and correction at 2830. Above 2830, the reliable target is 2850 for June 2019. Other two upside targets for June-July are 2880 and 2910. The original target of 3000 is still intact. So we need to stay long above 2770.

In addition, Nasdaq100 is up 2.2%, or 153 points, reversing its major loss of yesterday, and reversing from a critical support level. That’s a positive sign for the current recovery in S&P500. But the S&P500 futures have to cross 2820-2830, for emerging into fresh upmove till 2880-2900. The 200 day moving average is at 2770, which should provide support on the downside. A retest of 2800 is very likely to create the next upmove above 2830.

Emini Futures Trading Update- 31May2019

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Hello Folks, the S&P500 futures are currently at 2766.00
Today’s Range: 2751.00 – 2790.75

We have had a large gap down today, with Trump tweet regarding Mexico today. The market was already uneasy the whole of May 2019, and this just pushes it further down, while investors try to assess, where the support levels are. We will buy the Micro Emini Futures (MES) again for June, with a stop loss at 2740-2720 (see Bonus Trades below), which was the previous successful support level. This is an oversold  market, and we should see a have a very good recovery in June. We will add new Micros above 2800 level. Upside targets till 2910 are clearly visible. And 3000 target is still intact. So I am confident that we will make good profit from here, and we will add new positions on the upmove above 2800.

[Bonus Trades for June 2019]
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(a) Buy at 2760, Target 2800, Stop loss 2740
(b) Buy at 2750, Target 2830, Stop loss 2720
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Traders can use Micro Emini(MES) futures to distribute these trades.

This month, May 2019, has been somewhat like Dec 2018, with weakness all through the month. Most of the weakness this month has come in pre-market gap downs – its one of the largest concentration of pre-market corrections since 1982. We will let the futures get back above their 200 day moving average, before buying more. We did not get a chance to add more contracts and lock the gains in May 2019, but the good news is that the S&P500 is at 2765, which is means solid upside available from here in June 2019, and we will use it by increasing our positions once the upmove is in progress. Thanks.

S&P500 Futures Outlook – 09May2019

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The S&P500 futures are currently at 2841, down 46 points! The futures have been correcting everyday this week, at a brisk and punishing pace, giving a reminder of what we saw in Dec 2018. The futures have failed to hold their 50 day moving average (SMA) at 2863, and therefore, they may go down further to test the support levels at 2830. However, these are all buying levels because it has been a one-way fall, and the futures will surely retest 2880-2900 levels in the coming few hours or days, to see if they are indeed a new resistance.

[Bonus Trades]
(a) Buy at 2840 for Target 2870 with Stop loss 2820 (completed today itself, with 30 points gain)
(b) Buy at 2840 for Target 2890 with Stop loss 2830 (in progress, Stop loss revised from 2800 at the start to 2830 at close of day)

Please Note: The volatility is high, and so are the gains, if we get the trades right. If you can’t handle 20 point stop loss, this market is not suitable for you currently. Please stay on the sidelines, and surely go long above 2900.

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S&P500 Futures Outlook – 07May2019

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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.

Emini Futures Trading Analysis- 06May2019

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Hello Folks, the S&P500 Emini futures are at 2901.50
Today’s Range: 2983.75 – 2916.50

Nobody likes weekend volatility, but it’s here today morning!
The S&P500 futures fell sharply on Sunday night after US President
Donald Trump shocked investors by threatening to hike tariffs on $200
billion worth of Chinese goods, raising fears of a global slowdown and
halting a relative period of calm in the markets. The S&P500 futures fell
about 60 points overnight after the Wall Street Journal reported that
China may cancel a round of US talks this week after Trump’s comments.

In other words, volatility is back! And we can benefit from it by getting
a suitable entry point. The S&P500 is still in uptrend, and the target of
3000 is intact. Most stop losses would have hit by 2900 level. Today’s low
of 2883 is the level to watch, so the key support level currently is near
2880.

2990 level may get tested once more before futures move up and
test higher levels of 2920 level. This trade is based on that move. And we
have a stop loss 2880, given to us by market action today morning.

[Bonus Trade] Buy at 2880 for Target 2900 with Stop loss 2860.
Trade update: This trade hit target within the same day.