Princetontrader Futures Trading Education Charts of The Day March 16, 2017
The S&P Futures were taken into control by the Bulls yesterday. This has been a pattern we have seen many times over the past few years. The Bears allowed a double bottom at 2354 then failed to convert weekly pivot, 9 day sma or the daily mid-band as resistance. A series of higher lows follows and we find ourselves less than 15 handles from the continuation all-time high at 2401. Over the past couple of years, the futures have liked to close out the contract at contract highs. If that happens again then we should continue to grind toward 2401 today. During yesterday Daly Wrap Up I discussed the 2380 area as being the key to the overnight trade. It was a risk marker again a long since 3pm ET and provided 2-3 very nice day maker trades. I hope everyone took advantage.