Princetontrader Futures Trading Education Charts of The Day November 30, 2016

The S&P Futures continue to trade between the 2112 - 2209 area on the upside and the 2200.75 weekly pivot area on the downside. Bears have breached 200 twice this week but have failed to hold their advantage. The key price area of 2200.75-2203.00 was tested last night and held again by the Bulls. The typical scenario from here would be to be fairly directional the rest of the week with the Bulls having the clear advantage. That means more buying of dips and more new all-time highs. The 2214 area is open for a test. Should we continue to stall at 2209/10 then a more range bound trade would follow. There would be nice two sided opportunities there.

Daily Chart:

The S&P Futures continue to trade between the 2112 - 2209 area on the upside and the 2200.75 weekly pivot area on the downside. Bears have breached 200 twice this week but have failed to hold their advantage. The key price area of 2200.75-2203.00 was tested last night and held again by the Bulls. The typical scenario from here would be to be fairly directional the rest of the week with the Bulls having the clear advantage. That means more buying of dips and more new all-time highs. The 2214 area is open for a test. Should we continue to stall at 2209/10 then a more range bound trade would follow. There would be nice two sided opportunities there.

Hourly Chart:

Here you can see the clear higher low that was established overnight at the weekly pivot. Bulls need this price area battle to be over and start to work on grinding to new highs. Bears want the 2210 area to stall and find some momentum to get back below 2196.

Here you can see the clear higher low that was established overnight at the weekly pivot. Bulls need this price area battle to be over and start to work on grinding to new highs. Bears want the 2210 area to stall and find some momentum to get back below 2196.