Currently: Cash Looking to: Short @ 3,146
As of 6/19/20 close: 3,058
LAST WEEK: We suggested selling longs / getting short at 3,044.38 with stops on a close above 3,050 and with a target of 2,799.85. If stopped, we suggested re-shorting at 3,227.50 with stops on a close above 3,235 and with a target of 2,979.
UPDATE: S&P futures faded into the weekend after rallying sharply early last week. Right now, we put daily closing resistance at 3,146.83 and project a drop from current levels down to either 2950.50 or 2,854.33.
We would short near 3146 with stops on a daily close above that level and would look to cover shorts at 2950.50. We would then look to get long of S&P futures at 2,854.33 with stops honored on a daily close below 2,760.25.