S&P – higher weekly lows point signals cautiously higher
JUN'16 CONTRACT - S&P was bought to higher, marginally, levels for a 2nd week in a row last week. April’s highs were not maintained and net movement was minimal. But it is a developing trend of higher weekly lows and the buying seen in setbacks over the last 3 days that places the focus on the topside as signals point to a test of November's and May's record highs.
Management and risk description
Allow room to buy the dip and raise the stop to the entry point if the first target is met.
Entry: market and 2084.0, last week's low.
Stop: 2056.0, the May 24 base.
Target: 2132.0, May's record and 2148.0.
Time horizon: this week.
— Edited by Clare MacCarthy
Non-independent investment research disclaimer applies. Read more