Although S&P 500's 1810 still remains as a resistance as S&P 500 failed to stay above 1810 & closed @ 1809.60,
S&P 500 is getting stronger & will try to break & stay above 1810 again
Watch S&P 500 @ 1810 & 1813 to see if it's strong enough to break & stay above 1810 today, next possible resistance @ 1813 which was the highest point reached before, but will also be at risk as S&P 500 is trying to go higher
Look to buy S&P 500 @ 1810 or 1813 (or S&P Futures' 1804, 1807) if it breaks & stays above 1810, going higher
We expect S&P 500 to break above 1810 & even 1813 today, reaching a new all-time high, but it'll depend on strong market movement
However, we still have to cover other possibilities in case S&P 500 is weaker than expected
Look to sell @ 1810 or 1813 (high risk, resistances might be broken later, use shorter expiration of 5-15 minutes) if it's weaker, stays below & drops further
Look to buy S&P 500 @ 1800 or higher if it drops near 1800, rebounds & goes higher
S&P 500 dropped to 1801.59 & rebounded higher yesterday
All for 30 minutes expiration except sell @ 1810, 1813- 5-15 minutes expiration
Results:
S&P 500/Futures was weaker before the market opened so we'll trade S&P Futures instead as S&P 500 was not available before 9:30am EST
S&P 500's 1810, 1813= S&P Futures' 1804, 1807 as stated
Sell S&P 500 @ 1810= S&P Futures @ 1804 if it drops further- 1 win
S&P Futures dropped further from 1804 (S&P 500's 1810) to expire @ 1802.95 at 7:30am EST, staying below all the time between 5-15 minutes
(Time shown in S&P Futures charts are EST+13 hours)
S&P Futures quickly rebounded back up to break above 1804
Buy S&P 500 @ 1810= S&P Futures' 1804 if it stays above & goes higher- 1 win
S&P Futures broke above 1804 & went higher to expire @ 1806 at 9am EST, helped by better than expected economic data
More possible wins trading slightly lower/higher than target prices at higher risk
Sell S&P 500 @ 1813= S&P Futures @ 1807 if it stays below & drops further- 1 win at higher risk
Sell S&P Futures slightly below 1807 (highest point @ 1806.45, sell slightly lower) as it stayed below & dropped to expire @ 1805.65 at 8:50am EST, also staying below between 5-15 minutes
Buy S&P 500 @ 1810= S&P Futures' 1804 if it stays above & goes higher- 1 win at higher risk
Buy S&P Futures slightly above 1804 (lowest point @ 1804.65, buy slightly higher) as it stayed above & went higher to expire @ 1811.15 at 10am EST
S&P 500 became stronger when the market opened & broke above 1810 & even 1813 as we expected, breaking records & reaching a new all-time high
Buy S&P 500 @ 1810, 1813- 2 wins
S&P 500 broke above 1810 & 1813 & went higher to expire @ 1817.03 at 10am EST
S&P 500 also continued to go higher for the rest of the day, reaching record highs before finding resistance @ 1824 & dropped due to profit taking at the end of the day
Watch S&P 500's resistance @ 1824 on Monday, sell S&P 500 @ 1824 if it still fails to break above & drops further
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