Pre-opening Commentary - S&P 500 Last Message
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Price has trended higher during the overnight session up
to our target area at 1120.75 - 1122.75 and is moving
sideways. Price could push a bit higher to 1122.75 and
then retrace but we expect a retracement from this level
unless the internals open strongly and retain their
strength. In this case, price could continue higher
right from the opening.
That price is trending higher during the overnight session
suggests manipulation due to the lower participation,
making controlling the market easier. This is not
unprecedented during major political years but leaves us
trading choppy conditions for the most part.
Price may again trade sideways at this level for much of
the day. Retracement targets are at 1115.50 - 1116.50,
1113.50 - 1114.00, and 1109.00 - 1109.50.
Charles Holt, S&P Trader & Mentor
D A Y T R A D E R ' S B U L L E T I N
Real-Time Trade Signals for the S&P 500