There is the potential for a reversal on the horizon with a bullish exhaustion move on futures.
S&P 500 futures are pointing to a strong start to March.
The S&P 500 spread expiring today is currently tighter than normal at 15 points around the 2795 strike. That leaves us 2780-2810 as our edges to watch for expansion or reversal.
As in the last two days, traders are attempting to stage tradable upside bounces under a bit more divergence.
Though prices will likely see higher levels, they are likely to fall again at lower highs back into heavier congestion.
WATCH THE UPPER EDGES HERE TO SEE WHERE PRICES BEGIN TO STALL OUT. Don’t get in front of shorts until you have technical confirmation.  The traders are still very bullish as of this writing.
Stock Market Futures Update – March 1, 2019
Twitter: @AnneMarieTrades
The author trades stock market futures every day and may have a position 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.
