Princetontrader Futures Trading Education Charts of The Day February 8, 2017

The S&P Futures continue on in  what has been a fairly frustrating week for both sides.  Bears want to convert weekly pivot. Each trip to the mid-2280s has been support.  Bulls want to convert 2294/95 and do a new all-time high.  Each attempt has resulted in resistance.  The majority of the week has been chopping between these two areas.  The goals for each side remains clear.  Convert the range.  The next leg of the market goes to the side who can accomplish that task.  Don’t get chopped up waiting for a winner to emerge.  Tapes like this grind up traders.