Being Long The S&P 500 Futures Isn't Fun
Monday, 22. May 2006
S&P 500 futures market makes a lower high and lower low for the fourth session in a row. In spite of a rally at the end of the session the best the S&P 500 could do was 1274 which was quickly batted down 10+ points to end the day down 8 points. The most important thing is to maintain discipline in a volatile and tough market. We still remain ready to profit from this trade or take a loss as the market unfolds to either outcome. The market hasn't given us alot to work with, but it sure has moved against us . The next few session will be critical as the market finds its next trading range. For now we will hold our current position, but will prepare for a partial or full exit should the chart pattern and market condition dictate.
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