Princetontrader Futures Trading Education S&P Futures Webcast April 3, 2017
The S&P Futures gapped up 30 handles off the election results from France. Gaps are tricky. I faded this one as I fade most for a small profit but I’m flat and waiting for the regular session. The prior resistance area of 2366/67 held as support into the Europe open and allowed price to make a higher high. If the 66/67 area can hold all day then the bulls will ultimately remain in control. We have also engaged the upper band. Should we spend the entire day above the daily midband we will find ourselves in a buy dips market once again. As for intraday trading, I will be focusing on the 5 minute mid band as a test of who has the very short term advantage.