Princetontrader Futures Trading Education S&P Futures Webcast March 27, 2017
The S&P futures remain in sell rallies mode and in the middle of a lower band ride. Bears did what they had to do on Friday by pushing price down to the lower band in the afternoon. This established control into the Sunday open. Overnight we have traded as far down as 2317.75. Expect rallies this week just as we had rallies last week. You can be long the rallies but understand that most likely those rallies are sells. The tape continues to be volatile so you need to respect risk. The weekly pivot is 2357.67 and that should be the most any rally should print this week if we are to remain in a bear dominated sell rallies tape. The key for the bears is to defend the rallies. The key for traders is to resist being too early short on the rallies. Take profits as they come and get risk out. Should be a fun week.