Princetontrader Futures Trading Education Charts of The Day March 8, 2017
The S&P Futures continue to show increased volatility which has made for improved two-sided trading opportunities. The Bears held the 9 day sma and have now converted that level to resistance. This opens the daily mid-band for a test maybe not today but over the course of this week. The Bulls want to hold last night’s Globex low in the 2359 area. Bulls need to start taking back key areas like the 9 day in order to get weak shorts covering. The 2401 high is now almost a week old. As this high establishes itself we can begin to gain more confidence that a short term high is in and that the next battle will be fought at the midband.