S&P 500 retested yesterday's resistance @ 1842 but failed to stay above & dropped further
S&P Futures' value changed compared to S&P 500, S&P 500's 1842 now = S&P Future's 1837 (previously 1836)
We also mentioned earlier that S&P Futures built strong resistance @ 1839= S&P 500's 1844
High risk:
Sell S&P 500 @ 1842 & 1844 or S&P Futures 1837 & 1839 if it stays below & drops further again
Risk: Stocks might suddenly break above & go higher again, but looks weak for now, support remains at S&P 500's 1840 although slightly broken & weakened
Trading continues to be riskier as stocks are trying to go higher but facing strong resistances
Results:
Sell S&P 500 @ 1842- 2 wins
1842 confirmed as strong resistance after it dropped further
S&P 500 stayed below 1842 for the rest of the day & couldn't even reach 1844 anymore
Sell S&P 500 @ 1844 invalid as it couldn't even be reached anymore
S&P 500 tried to break & stay above 1842 again but failed & dropped further to expire @ 1840.84 at 3pm EST & 1841.40 at 4pm EST
S&P Futures expired @ 1835.65 at 3pm EST & 1836.65 at 4pm EST
Same as S&P 500, Sell S&P Futures @ 1839 invalid as it couldn't even be reached anymore
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