Bullish on the S&P 500 (again)

E-mini S&P 500 (CME:ESU14)

The E-mini S&P 500 made a third leg down on Thursday that now already appears complete after a strong bounce back close to 1967. A decline from the high now looks like a completed zigzag that can lift the prices back to all time highs. As such, we are bullish again on the S&P, and will be looking for a new high as long as 1944 support holds.
 

 

Ed Note: Every day traders can listen to live, streaming squawk box commentary on FUTURESmag.com coming directly from the S&P trading pits in Chicago.

 

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