mar 12 Mini SP 500 future

adrianc

S&P broke 1293 but stopped only just short of the next target of 1299.

If attempting shorts here today we need stops above 1303 for a run up to 1309 next. This was the high back
in August 2011 and with the market overbought now worth attempting a short on the first test of this resistance.
Keeps stops tight again above 1313 as this keeps the market buoyant for 1317/18.
Initial support seen at 1288 for short covering. 1281/80 did the job of holding the downside nicely yesterday
as hoped but today a break below 1279 should keep the pressure on for 1274/73. Attempt longs here with
stops below 1270 as this should see the market continue lower towards 1268/66 and then 1259/58 for another
buying opportunity.