The S&P 500 outlook remains bullish, but I see prices dipping below their current 3510 level as more likely than not during today's session. That makes it justified to take profits off the table (at market, which is 3507 currently), and get ready to rejoin the long side again at a more opportune setup.
Trading position (short-term; futures; our opinion): no positions are justified from the risk-reward perspective.
Thank you.
Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
