Princetontrader Futures Trading Education S&P Futures Webcast May 8, 2017
The S&P Futures reacted to the French election results by printing a new all-time high of 2403.75. Price has pulled back since but has held overnight at the 2394.42 daily pivot. The new weekly pivot resides just underneath at 2390.90. Bulls must follow through on last night’s strength or the new all-time high begins to look more like an exhaustion top. In order for the Bears to be taken seriously they will need to close below weekly pivot and use the rest of the week to keep rice below the weekly and make gradual lower lows.