The premarket S&P 500 upswing is faltering, and the runup to the Day 2 of Powell testimony isn't shaping up to be the strongest for the bulls. Thus, it's justified to modify our profitable long position and take all profits off the table should the market decline below 3118. Please see Position section for details.

Trading position (short-term; our opinion): long position (100% position size) with stop-loss at 3118 (to take us out of the open trade profitably) and the initial upside target at 3220.

Thank you.

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