Princetontrader Futures Trading Education Charts of The Day April 17, 2017

The S&P Futures lived up to their near perfect record of demonstrating excellent volatility and tradability while I am on vacation and not trading.  It was a fantastic week for directional opportunities.  The one consistent last week and the week prior was an inability to trade above and convert the daily midband.  The weight of the overall sell rallies environment with the help of news finally allowed price to engage with the lower Bollinger Band.  The bears should be able to begin a technical band ride Sunday night.  If that occurs the key to the early part of the week will be how price reacts to the new weekly pivot at 2338.25.  If the bears want to keep control the weekly pivot will act as resistance and new lows will be seen over the course of the week.  The initial task for the bulls would be to convert weekly pivot then attempt to convert the daily midband, the area which eluded them the past two weeks.  News will play a major role in who wins the week.  Trade accordingly.