Currently: Short Looking to: Cover @ 2,472
As of 9/8/19 @ 11:23pm EST: 2,986.25
LAST WEEK: We suggested selling / shorting at 2939.62 with stops on a (monthly) close above 2,963 and with a target of 2,472 2,487.
UPDATE: S&P futures were on the rise last week and were facing resistance at 2,979.75, 2992.25 and 3,009.25. Of those three levels, 2,979.25 is the one that has more than one indicator producing it as a possible resistance level. Well be watching the action closely as this weeks trading comes to a close.
We would be selling longs and getting short of ES futures at current levels just above 2,979.25 with stops honored on a close above 3,009.25 and with a downside target of 2,487.75 (the very first Fibonacci retracement level of the 2009 2019 bull market).