Princetontrader Futures Trading Education S&P Futures Webcast January 17, 2017

Yesterday’s extended Globex session was as advertised.  Pretty non-existent.  The Bears broke below the weekly pivot at 2265.50 overnight and traded as low as the 2257/58 area.  That area was defended and we are now seeing a test of weekly pivot from underneath.  The Bulls want to take back weekly pivot and continue their weeks long quest to sustain a trade above 2270. The Bears want to establish that weekly pivot is resistance and make a run a last week’s low 2247/48.  Should neither side be successful then we will continue to compress in a decent sized range.