Princetontrader Futures Trading Education Charts of The Day April 3, 2017

The S&P futures spent Monday below the daily midband after the new monthly pivot of 2357.50 went resistance.  The hard push down stalled at 2340 (S3) and bounced back to retest the monthly pivot where price held as resistance again for a move back to the 2348.10 weekly pivot.  The weekly pivot (which we were looking yesterday morning to get a test) held as support through the Europe open.  Bears want to make a lower low today and then attempt to engage the lower Bollinger Band.  The Bulls need to finally convert Monthly pivot and take back the daily midband.  Bulls would prefer a close over 2364.  Based on pure price action and rules the Bears have the advantage.  Weekly pivot will be today’s battleground.