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S&P 500 Futures Buy-Sell Levels

|Includes: ProShares UltraShort S&P 500 ETF (SDS)

Market Summary_ #tradesummary

  • Copper has signaled a new long. Gold and Silver have both been stopped out of their respective short trades.
  • Crude had a sharp move down. Look for a retracement move up. Natural gas had a new long move but was stopped out at for a break-even.
  • The US 30 year Treasury Bond has a new short entry, but indicators say wait.
  • The US Dollar futures declined after the FED raised rates. Expectations may have been fully discounted, or the market doesn't like the rate increase. Will have to see what the reason is after some time passes.


S&P 500 Futures_ #eminfutures

Monthly - Still trading around the 2401 highs. Trade pressures are up and trending. Volumes closed the February month as bullish. Volumes have declined for three successive months. A close below 2180 would confirm a weekly move down.

Weekly - Remains in the uptrend. Trade pressures are up and trending. Volumes remain bullish. The next target up is 2487. A close below 2328 would confirm any daily move down.

Daily - Flat. In the move up from the 2275 long entry. Trade pressures are in the neutral zone. Volumes are mixed, bullish-bearish-neutral.

The next targets up are 2413-2427.

The 2358 short entry was traded thru intraday, but did not close below that level. Trade pressure divergences suggest downward pressures to come soon. Time may also show some downward pressures in the last week of March.

Additional disclosure: The author may have long or short positions in any of the securities mentioned.