S&P 500 futures reclaim 1555 ahead of Tuesday open, Gold trading 1398
SP 500 E-mini Future
|5 min ES|
“bounce” is the theme this morning after housing starts came in above expectations (1036MM, Exp. 930K), though i think most of this move up off 1538.75 into 1558 is reactionary as the Boston attack really spooked the market.
That being said if you rode up the overnight move, book your profits and bring it back to center court so you will be ready for the next move.
|15 min ES|
Currently the ES is trading for 1558 +14.25 points or 0.92% with 1560 being resistance, this comes after we highlighted on the TFP Insider feed the 1550.25 level as a pinch level.
Support is 1555 into 1550 with 1545 being the last line of defense before 1540-1538 comes back into play.
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