Princetontrader Futures Trading Education S&P Futures Webcast April 18, 2017
The S&P Futures rallied off the Sunday night lows and traveled back to the Weekly Pivot at 2338.25 back mid-morning. Bears failed to hold lower Bollinger Band, Daily Pivot and Weekly Pivot and allowed a close well above all those levels in the 2345/46 area. As has been typical of this tape the Bulls were unable to hold their advantage overnight trading back to the 2334 area on the rumors of UK elections in June. As we rally back from 34 the 2338-2341 area becomes critical. For Bears it is an area where they could potentially find a lower high versus yesterday and a second chance to push lower and try to save the current lower band ride. (Daily lower Band is in the 2330 area. Bulls need to have a replay of yesterday and push back over weekly pivot and squeeze shorts higher toward the 2348 Daily midband and attempt to convert that key area to shift the central focus from sell rallies to buy dips.