Princetontrader Futures Trading Education Charts of The Day February 16, 2017
The S&P Futures continue to be in Upper Bollinger Band ride mode. The Bandwidth begins the day at 4.45 so there is room for a little more price expansion. Above 4.5 is typically where I start to look for a turn. Just as yesterday we remain in buy dips mode. Price traded as low as 2331.25 yesterday and once again attempted to convert the hourly midband. When the Bears failed for a second day to hold that hourly midband on the price test from underneath the bulls took full advantage and squeezed the bulls into another new all-time high. How price reacts to that level this morning continues to be my top tell as to whether we will be getting more of the same or a more complete day from the Bears. Bears must breach the 2331.25 level (Wednesday’s Low) in order to begin to put this upper band ride into doubt.