While Friday's upside reversal is giving the stock bulls the anticipated upper hand in the short-run, and that's in line with the medium-term assessment too, protection of open profits during these relatively light-volume summer days is paramount, regardless of today's bullish opening gap. 

Please see the Trading position section for details so as to lock in open profits and walk away with another profitable trade no matter where the market goes next. The current times of Fed withdrawing liquidity can turn dicey in an instant, and that's especially true during the summer doldrums.

Trading position (short-term; futures; our opinion): long positions (100% position size) with stop-loss at 3179 and initial profit target at 3230.

Thank you.

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