The S&P500 futures are currently at 3733, and they are in clear uptrend, constantly trading above their 5 week EMA, which indicates strong uptrend, and the only thing to do here is to stay long above the 5 week EMA, which is currently at 3689.
The S&P500 futures closed today at 3721.50, doing a small red day, but they are still trading above the 10 week SMA (currently at 3605), and any move above 3730 can rapidly accelerate into a new rally towards 3750-3780 level.
The 10 day SMA is currently at 3706, and it is suitable for short term trading, so we can stay long above 3700 level. Our S&P500 Futures Trading Strategy is to stay long above 3700 for target 3760.
S&P500 Futures have hit 3600 today and they are currently near 3650! And 3600 was our major target for this year, as published on Dec 31, 2020 (before Covid19 pandemic came and everything looked different). The S&P500 futures will surely go back to retest 3600 and 3580 levels again (and for support level testing). Therefore, traders should take at least partial profits on their long positions at 3650.
Our S&P500 futures trading strategy is to keep trading on the long side, and stay long till the futures are above the uptrend line drawn in black. S&P500 usually adds at least 100 points more after a new high (reward for new high makers), so next reliable target is 3585+100= 3685. So, futures should hit 3680-3585 at least once this week. At the same time, there is also a lower target of 3450, which is pending (and it will come again, when we expect it the least), so there are likely to be some big swings in November. Traders, please remain alert and cautious, keep taking profits, and keep using corrections.Thanks.