The March S&P 500 comes into Thursday’s session trading below the 1500 level.
The overnight trading session saw a low put in near 1491. I think this market will try and get back to 1500 in today’s session.
KEY LEVELS
I am a buyer on breaks below 1493. 1495 should serve as a pivot point, with 1496 serving as first resistance. Look for exit points from 1498-1499. Aggressive traders could hang around for rallies above 1500.
BOOK PROFITS
Don’t get too greedy and be willing to take profits when the opportunity is there. Good traders don’t let winning trades become losing trades. If you can grab a winner in the market, pat yourself on the back and call it a day.
Today is the last day of the month; end it on a good note.
THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES AND OPTIONS TRADING. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE USE OF A STOP-LOSS ORDER MAY NOT NECESSARILY LIMIT YOUR LOSS TO THE INTENDED AMOUNT. CURRENT EVENTS, MARKET ANNOUNCEMENTS AND SEASONAL FACTORS ARE TYPICALLY BUILT INTO FUTURES PRICES. A MOVEMENT IN THE CASH MARKET WOULD NOT NECESSARILY MOVE IN TANDEM WITH THE RELATED FUTURES AND OPTIONS CONTRACTS.
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A trading set-up for Amazon. Profit on a bullish or bearish breakout.
