Currently: Cash Looking to: Short @2,930
As of 4/21/19 at 9:50pm EST: 2,905.88
LAST WEEK: We suggested shorting up at 2,930 with stops on a close above 2,970 and with a target of 2,800.
UPDATE: S&P futures made it up to around 2,925 last week, but are having trouble progressing through this layer of resistance. Using various measuring techniques, we have resistance now at 2922.25, 2,965, 2987, 2996 and 3013. Of those, the two most likely ceilings appear to be either 2922.25 and 2987. So, we would continue to sell longs immediately if you still have them and would then start layering into shorts at 2922.25 up to 2,987 with stops on a close above 2996. The downside target for shorts depends on where the ceiling is made. If it is 2922.25, we would look for a drop to 2740 2780. If it is 2987, we would look for 2780 2810. We woud only be buying into market proxies starting down at 2810 and would layer in down to 2740.