The S&P500 futures have closed today at 4507.50, which is a new lifetime high closing. Day high was 4510, so the closing rate is near day high, and a sign of strength. The futures had a brief correction but bounced back from 4503, so 4500 level was defended today afternoon. As per our analysis, targets of 4520 and 4530 should come next week.
Once the S&P500 futures recovered above 4400, they haven’t looked back.
As mentioned earlier, our S&P500 futures trading strategy is as follows:
Above 4400, our target is 4450 (achieved),
and above 4450 closing, 4500 is the target (achieved).