Sunday homework

Futures homework for the S&P 500 futures

Talk about a bull market. Bears need to get this 60 handles below to 3287ish for a “hope” of taking it lower. Everything is overbought. All sorts of valid reasons this should be lower. A good indication of a trend is how far apart are the moving averages in the time frame you are researching. The the 20, 50 and 200 on the daily and all sloping up and opening farther apart. You could probably scalp any one of those averages with success

ES 09-20 (Daily)  3_31_2020 - 8_7_2020.jpg
Daily S&P 500 Emini futures chart
ES 09-20 (240 Min)  8_9_2020.jpg
4 hour S&P futures chart

The 4 hour seems to offer a probable location for a possible chance at a short in the 3400 area.

This would be a great time to see if you could put on a free hedge out to post election in November. Selling like a SPY 360 or 370 call and seeing if that would give you enough money to put or get a credit for a put of the same expire. Like a 280 or 300. It might now work but would give protection to the downside. Similar to this trade that I put on and advised about in February of this year.

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