Princetontrader Futures Trading Education Charts of The Day January 20, 2017
The S&P Futures spent yet another day in the range (2257.00-2268.00). Bears traded as low as the 2253 area but that move way ultimately rejected and we have subsequently traded back to the 2267/68 range top. While we made no progress on longer term timeframes the range continues to provide some good morning opportunities. The 2267.50 area remains resistance and held through the overnight session. Each side wants to accomplish their goals. Bulls sustain a trade over 2270 and make a new all time high to initiate an upper band ride. Bears want to convert weekly pivot and daily midband and test lower support areas. Compression continues on the daily chart. Resolution will come in time. Until then take advantage of what the market is giving you.