US Markets - Thoughts on the S&P 500 Emini Futures....

Cerundolo Investment Research    

US Markets Update  

Volume 6, Issue 9
February 2, 2022

Items of Interest: 

Today's rally has the index up into the 0.618 retracement level and now reversing with the after hours trading. There is a sell signal generating tonight, which will trigger a short with a move below 4510. We can't say that this is the start of a major leg down, but given the sharp move up from the recent low, we don't want to ride a pullback down to what can be a sharp counter trend move. Be aware that if we are below the trigger point by the morning open, there is risk to the top of support in the 4425 area.

I will be out for the next two days for a surgical procedure and will try to get on top of things if possible this Friday.