Currently: Cash Looking to: Short 3,229; tgt 2,975
As of 7/10/20 close: 3,179.50
LAST WEEK: We suggested shorting shorting at 3,146 with stops honored ona close above 3,151 and with a target of 2,825. If stopped, we suggested re-trying shorts at 3,229 with stops on a daily close above that and with a target of 2,975.
UPDATE: Resistance at 3,146 3,151 was taken out on a daily closing basis this past Monday and things traded sideways until Friday. On Friday, equities pressed higher and appear poised for a push towards the 3,229 level.
We would be out of shorts in the S&P futures now and would look to re-short up at 3,229 with stops on a close above 3,235 and with a target for covering at 2,975. Longer-term buys should be attempted down at 2,975 down to 2,876 2,904.