The S&P 500 outlook remains bullish, and I look for the initial selling wave to give way to generally rising prices next. That makes it justified to look to reenter on the long side - please see below.
Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market, which is 3494 currently) with stop-loss at 3460 and initial upside target at 3550 are justified from the risk-reward perspective.
Thank you.
Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.
