Princetontrader Futures Trading Education Charts of The Day May 1, 2017
The S&P Futures continue on an upper band ride. Price made matching lower highs at 2388.75 last week and the pre-market push from the 2377 low (2375-79 support zone has held the past two tests) will need to get above 2388.75 this morning and open a test of 2394.75. Failure to do so will keep the bearish argument that bulls are price/momentum exhausted alive and sets up a test of the new weekly pivot at 2379.9. Bulls still have one job on the upside…a new all-time high. Anything less leaves them exposed.