S&P500 Futures Analysis- 08Jul2022

Momentum indicator (CCI) has made a good come-back to the top end of its range, while S&P500 futures price recovery was feeble or sluggish.

The suitable S&P500 trading strategy for last 2 weeks has been suitable staying long on S&P500 futures (ES) above 3700 level, and the market conditions were also suitable for selling S&P500 put options, especially the liquid SPY put options of 370 and 380 level..

On closing above 4000, it will be a clear breakout and 4200 will be reliable target. At current level of near 3900, a quick correction of 3800 is possible again if momentum reverses from here.

SP500 Futures Analysis -24Jun2022

SP500 Futures have been trading in a bearish mode since Jan 2022, and daily charts are all in declining price channels, which means all rallies are getting sold, and higher highs are not coming, but lower lows are coming.

SP500 Futures Trading Strategy is to buy on support levels and sell/exit long at resistance levels. Futures Trading has to be done with smaller position size because volatility is high, and 40-50 point up/down move is happening almost daily.

SP500 Resistance Levels are currently at 4000-4030.
SP500 Support Levels are currently at 3650-3700.