High risk trade:
Sell S&P Futures @ 1800 if it stays below & drops further, for less than 30 minutes expiration
Risks: S&P Futures resistance @ 1800 not confirmed, possible rebound & support @ 1798
Trend for today is up, but possible profit taking @ 1800 because it's too high, so it should drop @ 1800 at least temporarily
Update:
S&P 500 building support @ 1801
S&P Futures possible resistance still @ 1800 but slightly broken
Abandon "Sell S&P Futures @ 1800" or trade it at a higher risk
Result: Abandoned but barely won at a higher risk
S&P Futures expired @ 1799.65 at 12:30am EST (Time shown below is EST+13hours)
(We'll not count this as a win because we're looking for safe & easy wins but this trade was too risky)
We saw that S&P 500 is building support @ 1801 & has the potential to go higher later
S&P Futures' profit taking @ 1800 was also not strong enough even if it was only temporary as it did not drop further enough & resistance @ 1800 was broken
S&P Futures was then stucked around 1799.65-1799.95 for a while, then drop below to 1798.45 (S&P 500's 1799.93) & rebounded back up to close @ 1803.15 (S&P 500 @ 1804.76)
This showed strong momentum for stocks even after 1800, although support @ 1800 is slightly broken
S&P Futures dropped after the market closed, watch S&P Futures @ 1803 & S&P 500 @ 1805 for possible resistances
Watch for possible support & rebound @ S&P 500's 1800 again next Monday
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