Market Rally Futures Trading bullish moveJoel Wissing
Market Rally buyers step in to continue S&P500 emini futures move to previous highs.
Market rally will meet resistance at 1370 and 1372-75. Previously, at these levels the S&P500 emini futures contract had many attempts on the way to this price level. The market rally first moved to 1370, retraced to 1363.50 then on the third day of topping consolidation moved to 1375 in price failure and turned down.
There is support at 1366 and 1363 in the short term for the market rally and we can see this test before one more run at the highs before close. Could see a 3:30 or closing rally. This area could see a day or two of consolidated price movement.
Is it a double top in the long term pattern? We shall see as price approaches 1375.
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