S&P500 Futures Analysis- 12July2021

Hello Folks, the S&P500 futures are at 4372.
The futures have made a good recovery from the sudden fall last week. Our analysis was showing a recovery to 4230 level, and we shared an Optional Trade based on that analysis for Traders who trade with multiple contracts.

[Optional Trade#2] Update – Target hit at 4325 (30 point gain)
“Buy at 4295 for Target 4325 with Stop 4280”

But the momentum has been falling as the futures moved up above 4350, which doesn’t look like a safe setup for a new long trade. So we will wait and watch this week. On July 16th, there is monthly derivatives expiry, so some volatility should be expected over next 2-3 days. Overall, the setup is getting suitable for a trade.

Our S&P500 futures trading strategy for near term remains same:
“Stay long above 4300 for target 4400”.

The futures have a good support at 4330, and we will try to take a long trade around that level, between 4330-4340. We will get back to you with further analysis after market close today. Thanks.

S&P500 Futures Analysis – 22June2021

The S&P500 futures moved up sharply higher on Monday (from their deep red closing of Friday), with the Dow Jones Index (DJIA) completing its strongest session in over three months as investors piled back into energy and other sectors expected to outperform as the economy rebounds from the pandemic. That was a stark reversal from last week, when the Fed’s hawkish signals on monetary policy sparked a round of profit taking that wiped out value stocks’ lead over growth this month and triggered the worst weekly performance for the Dow and the S&P 500 in months.

S&P500 Futures Support & Resistance Levels
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Resistance 2 4260 Daily R2
Resistance 1 4245 Daily R1
Support 1 4198 Daily S1
Support 2 4180 Daily S2
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So the upside targets are 4245 and 4260.
Current price is 4218.