Bullish Momentum

S&P E-mini continued its bullish momentum yesterday with opening gap higher and closing on high of day. Overnight trade continues to hold recent gains with support at 1848 handle.

Early morning trade has price at 1853 handle in light trade…Anticipation is for any pullback to be absorbed heading into options expiration above 1848.00. Shortened holiday week with markets closed for Good Friday.

Expectation is for responsive selling between 1855 – 57 zone. IF price penetrates PDH and converts, THEN further upside extends 1860 – 62 zone, with extremes 1864.75. Near-term support reside between 1846 – 48 zone, with additional levels 1845.25…1842.00.

Good Trading…David

Habitude Eleven
I am courageous and I always act, even in the face of uncertainty and possible loss. Do not say, no fear. Feel the fear and act anyway. I may be frightened, but I still saddle up. I am not reckless. I act promptly in accordance with my methodology. I respect my calculations. I have a healthy respect and I balance that respect with my courage. I am an explorer. I am on a hero’s journey.

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