Amid a buying spree in the final hour of yesterday's trading, the S&P 500 reversed back above the mid-June highs. The move was supported by the credit markets, and even if stocks got a little extended relative to the HYG:SHY ratio, the swing structure of today's premarket session favors the upswing to continue later today.

As a result, opening long positions (and managing them flexibly) is justified - please see Trading position section for details.

Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market, which is 3223 currently) with stop-loss at 3100 and initial upside target at 3230.

Thank you.

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