S&P 500 Update: Trimming Into Profit

The S&P 500 is trading quite well now that we’ve cleared that opening range and muddled through that slow start.

We were looking for support via the 10-day ema on the SPY and /ES, alongside $390 in the SPY and 3920 in the /ES. And boy did we get a response.

While the trade was slow to get going, it’s trading quite well now. Let’s trim at a minimum half the position here, if not two-thirds and move to a B/E or better stop-loss.

Here’s how to manage the rest.

Nice reaction out of the 3920 level. We have waited all week for this.

S&P Update — ES and SPY