After quite a one-way slide in both the S&P 500 and the HYG ETF without a reasonably prominent corrective upswing, both markets have stabilized for the first time during today's regular session.

This happened in the proximity of the daily chart's 200-day moving average, which is at around 3020. While the S&P 500 rebound has run into short-term headwinds, the HYG ETF remains under pressure, which makes it enticing to make a bet on the S&P 500 futures coming to revisit the daily lows.

Please see the Trading position section for details

Trading position (short-term; our opinion): short positions (100% position size) (entered at market, which is 3037 currently) with stop-loss at 3050 and binding take profit at 3010 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading StrategistSunshine Profits: Analysis. Care. Profits.