S&P 500 futures are trading in the middle of the upward channel on the daily chart, above the important short-term support levels of 4391.0, 4429.0. A breakdown of the local resistance level of 4481.0 will become a confirmation signal for a build-up of long positions.
In an alternative scenario, a confirmed breakout of the support level 4365.0 can provoke a deeper correction to the local support level 4245.0 and further to the support levels 4160.0, 4045.0.
Long positions are still preferred in the current situation.
Trading recommendations
Sell Stop 4420.0. Stop-Loss 4485.0. Targets 4391.0, 43656.0, 4245.0, 4160.0, 4045.0
Buy by market, Buy Stop 4485.0. Stop-Loss 4420.0. Targets 4500.0, 4600.0, 4700.0
*) S&P 500: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
