Currently: Short Looking to: Cover / get long @ 3,015
As of 11/15/19 close: 3,119.38
LAST WEEK: We suggested covering shorts / getting long at 3,002 with stops on longs below 2,998 and with an upside target of 3,120.
UPDATE: S&P futures continue to trade very bullishly and may continue to do so a bit longer before an overbought condition and upside targets come into play to force some profit-taking and new downside bets.
We project resistance to come in at 3,155, 3,191 and 3,245. We can see 3,015.50 as being a buyable level of support in advance of a test of any of those resistance levels.
We would be buyers of dips in S&P futures to 3,015.50 with stops on a weekly close below 3010 and with an upside target of 3,191 for taking profits on longs and starting new shorts. The downside target on those new shorts will be 3,000.