Currently: Short Looking to: Cover / get long @ 3,015
As of 11/29/19 @ 11:58am EST: 3,145.88
LAST WEEK: We suggested shorting at 3,191 with a target of
3,000.
UPDATE: S&P futures are down a bit on the Friday after Thanksgiving here in the US. But, overall, they are still in solidly bullish technical shape. We still see a possible ST top occurring at 3,191 or 3,245 and then a pullback to around 3,013 3,015 to follow.
In the very LT picture, its likely that the uptrend that has been
in place since 2009 will remain the dominant backdrop from which we should be operating. That being noted, we are
currently in the middle of a move off of a test of the lower edge of that uptrend channel (which occurred last December). Dips should be bought until the upper edge is approached (way
higher from here).
We would sell longs as 3,191 is tested and may even add hedges there or up at 3,245 with a downside target of 3,015 for covering shorts / re-loading on longs.