The anticipated overnight S&P 500 slump indeed came, and started well before yesterday's closing bell. But going into the U.S. market open, the futures swing structure suggests a short-term upswing is likely to unfold in the following hours.

That makes it justified to reenter the market on the long side, and manage the open position flexibly based upon the momentum and credit markets' behavior during the regular trading and beyond.

Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market, which is 3143 currently) with stop-loss at 2570 and the initial upside target at 3160.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.