Currently: Cash Looking to: Buy here
As of 2/26/21 close: 3,809.25
LAST WEEK: We suggested buying dips to 3,859.75 with stops on a close below 3,837 and with a target of 3,980.
UPDATE: S&P futures dipped down to 38.2% Fibonacci retracement support at 3,786.25 Friday and tried to rebound. Assuming support holds, we are now looking for a rally to take prices up to either 3,931 or 3,985.
We would be out of shorts and would get long between current levels and 3,786.25 with stop honored on a close below 3,768.75. The upside target for taking profits on longs will be 3,931. The target for trying shorts will be 3,985 with stops on any daily close above 4,010 and with a target for covering shorts and getting long at 3,669.