Summary
- In the S&P 500 Emini, we are looking for a continuation of what appears to be a bearish trend momentum that is building up in the daily and weekly signals.
- 2760 is the ideal target for position or swing traders to the downside.
- The market has activated the first target of 2760, which is the mean or average price on a monthly basis.
- If we close below 2760, it will activate the targets of 2706 to 2627.
Since our March 1 report we published on Seeking Alpha, the E-mini S&P 500 has reached and activated the sell 1 (S1) level that we published of 2839. This was the first target on the monthly basis that identifies for you the extreme level above the mean on the monthly average price of 2760.