S&P 500 Futures Trading Outlook (2-3 Days): Nearing ST Price Target (2470.5)
I’ve been looking for a final push up to 2470-5 on S&P 500 Futures before looking for any type of correction to materialize. Tech is up against solid resistance and needs to be watched.
Housing starts came in largely better across most time metrics. The S&P 500 () is inching closer to my short-term target. We may see a bit more follow through but we are heading into serious resistance.
Most of Emerging markets are higher for the 8th straight day, led by china and Turkey today. Note that the US Dollar and Treasury Yields are quiet today.
Active investors are wise to watch the price action of the Nasdaq, Nasdaq 100, and general Tech Sector. Look for a near-term stall out in the next 2-3 days.
Chart Spotlight: S&P 500 Futures
Futures are moving toward 2470-5.
Nasdaq 100 ETF (NASDAQ:QQQ)
QQQ is nearing former highs in early June, which should cause at least a minor stalling out. 143.90 is an important area.
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Author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
