S&P Futures dropped to its lowest point today @ 1820.65 but might be oversold as it rebounded strongly
Possible support @ 1820, 2nd weaker support @ 1823 although already broken, no solid support found
Highest point @ 1832 before market opens, tried to stay above 1830 but failed & dropped further
S&P Futures built small support @ 1828.45 & jumped back up to 1832 after market opened, showing that it wants to go higher today
But it's staying below 1832 & building resistance for now
Buy S&P Futures @ 1832 if it breaks above & goes higher, for less than 30 minutes expiration
Risk: It might fail to stay above
S&P Futures testing 1830 (S&P 500 @ 1836) & 1832
Buy S&P 500 @ 1836 if it stays above & goes higher, for 30 minutes expiration
Update:
S&P Futures failed to stay above 1832, wait for it to stay above 1830 or 1832 & go higher before buying
1830 (S&P 500 @ 1836) support also at risk, not safe to trade for now, unless it reverses current downtrend, stays above & goes higher
Results:
Buy S&P Futures @ 1832- invalid
S&P Futures broke above but failed to stay above 1832, signal became invalid
Buy S&P 500 @ 1836- 1 win, 1 loss
Signal updated as not safe to trade, too much resistance
Trade at higher risk as S&P 500 expired @ 1836.51 at 10:30am EST, which is barely a win
S&P 500 then expired @ 1836.06 at 11am EST, which is barely above 1836 but slightly lower than previous low, resulting in a loss
S&P 500's 1836 is also broken below before 11am EST, signaling a further drop later
No comments:
Post a Comment