S&P Futures Buy The Rumor And Sell The News

We now have domestic terrorism, global terrorism, and now White House staffing drive the “markets”. If Bannon stays or goes, the market will roll back down.

The S&P futures top ticked on 8/8 @ 2488. Since then we had a 2-day pullback to a 2436 low.

A lower high @ 2473.70 on 8/16. Then we had the large sell-off yesterday and early weakness today to bottom @ 2420.

A 62 handle move lower since the 8/8 high.

Buy to rumor and SELL THE NEWS?

Our first bounce level @ 2436.10, 2446 and our short term selling zone @ 2454-2462

We now have domestic terrorism, global terrorism, and now White House staffing drive the “markets”. If Bannon stays or goes, the market will roll back down. I would look to be SCALED seller into this bounce.

STOCKS IN THIS ARTICLE

Comments