Princetontrader Futures Trading Education Charts of The Day March 24, 2017
The S&P futures traded as high at 2356.75 on the back of healthcare legislation headlines before seeing resistance. The Bears pushed back with the help of the same headlines. There is a ton of headline risk in this market. As it stands the Bears must trade below 2236-38 to maintain the lower band ride. This remains very much a sell rallies market and it will remain sell rallies until Bulls can convert the daily midband (2366) on a closing basis. If Bears want to make a lower low today, then watch the 5 min midband and vwap. They will keep you on the correct side of price. Subscribers are short 47 area vs 50 stop. Take profits, lock in your day goal, and enjoy Friday before the day even begins. Have a great weekend all.