Patience looks like it is about to pay off. The futures went down drastically last night. We had gone bearish at around 1552.00. Yesterday, the market closed 1549.37. With the S&P futures down drastically, the SPX and all derivative products should move down.
We are looking for a price target of 1525-1535. A tight stop loss will be maintained due the bullish nature of the market.
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