Princetontrader Futures Trading Education Daily Report May 23, 2017
The S&P Futures have confirmed the middle Bollinger Band as potential support on the daily chart during the overnight session. Bears failed to even threaten the new weekly pivot on Monday. This sets up a dip buy environment that should test the all-time high this week. Bears need news to reverse the momentum as this tape wants higher in a vacuum. The 2388 area will be critical. Bulls need over the roundy at 2400 to test the all-time high less than 10 handles from the globex high of 2397.75.