Trading S&P 500 Index with ES 03-13 E-mini Futures Contract.

S&P 500 chart

Look like S&P 500 are going for nice correction.

1530.25 was the Highest price buyers was able to go so far. After all those little move up of 5 points a days, low volume and low volatility in US Index Market; is nice to see this kind of drop. Over 30 points on ES E-mini. It is the correction everyone was waiting for? Is look like. At least is a great start.

Right now, we are in a small consolidation. And probably will go “UP” for few points. To be more precise, 1510.25 are the price I’m looking to go back at first. Is also a resistance for Buyers. But we may pass this price and go till 1514.75 , If ever buyers pass this price too, they should not support 1514.75.

Also, Notice, we break the small Bullish Channel.

So, what we have to look for?

Let’s see buyers test 1510.25. And if they pass this price, we have to check for 1514.75.  Once we get to those prices, We need to look on buyers commitment,will it be a strong or a weak commitment? and will they support those prices?. ( Is also, a target for those who are interesting to take trade “LONG”. but… personally I don’t recommend.)

Direction: Looking for Short direction in few hours/days, depending on buyers/sellers commitment. I won’t give my personal targets right now. I will make an update in futures days. For now, if you decide,how ever, take a short trade , use MA50 and MA200 as targets.

Few Updates are coming very soon on different Index. We start to get some great Volatility in S&P 500 / ES E-mini. Great time for Trading S&P 500 Index. Get educate! and start to make Real Money! Is easy once you know what your are doing!