S&P Futures are currently making a new All-Time intraday high once again with bullish price action this morning. COVID Delta-variant concerns are not proving to hold this strong market from continuing higher at the present time. There is ongoing talks that the US infrastructure bill will be passed today which could boost equities further. I am looking to buy on this breakout with a stop-loss just below the recent consolidation area that we saw the last few days. Check out the chart below for my technical setup. I recommend the following:
BUY ESU21 @ 4430.00 or @ Market
SELL STOP @ 4415.00 ($750 risk per contract)
SELL LIMIT = 4460.00 ($1,500 profit per contract)
The MICRO contract is 1/10th exposure per contract = $75 risk / $150 profit per micro contract
*Risk/reward are calculated before commissions and fees*
30 MIN ESU21 – Bullish Navigator & Ratio + Vega Highlighting Buy Signal = BUY
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