Princetontrader Futures Trading Education Charts of The Day March 1, 2017
The S&P Futures provided the bears with another attempt to convert the weekly pivot yesterday during a mid-day push lower. The bears squandered that opportunity and after the doom and gloom of last night speech never materialized Europe took the opportunity to drive the futures to fresh all-time highs. We have traded as high as 2378.75 as of this writing and there looks to be more. As we reach higher the round number at 2400 will begin to magnetize as the market likes to get a look at the next round number in sight. The bulls want to hold 2370/71 and seal that area as a floor. The Bears want to get back below 70 and try to get back to weekly pivot at 2361.10. The Bulls have a clear advantage as dip buyers are fearless and relentless. The Bears that are left have to avoid being roadkill. That dynamic is why we continue to head higher here.