Currently: Long Looking to: Sell @ 4,118.75
As of 3/21/21 at 7:58 p.m. EST: 3,896
LAST WEEK: We proposed buying dips at 3,875 with stops at a close below 3,840 and aiming to go long / short at 4,118.75.
UPDATE: S&P futures had a terrible day on Thursday and hobbled into the weekend. We are currently setting possible short-term caps at 3,918 or 3,950. If 3,918 is considered a short-term resistance we will look for a drop in ES futures to 3,818-3,820. If 3950 tests and is instead resistance we will look for a dip to 3848-3850 to follow. After this upswing and subsequent decline, we will aggressively buy S&P futures near either of these support levels (unless there is evidence to compel us to change our minds).
We would try to buy dips at 3,849 or 3,818.50, honoring the stops at a close below 3,847 and 3,815, respectively. The upward target for each entry will be 4,119. NO SHORT CIRCUIT NOW!