Princetontrader Futures Trading Education S&P Futures Webcast May 9, 2017
The S&P Futures failed to challenge the Sunday night new all-time high of 2403.75. As we discussed we tested the new weekly pivot very early in the week (2390.91). Bulls defended the weekly pivot but failed to push beyond the regular session opening print of 2395.75. Bulls must follow through of the Sunday highs and attempt to engage the daily upper band 2414 in order to seize the next leg in the market. Bears want to convert the weekly pivot and the 9 day sma. That conversion opens the doors to a test of the daily midband.