Price compression across stock market futures is sending a warning signal about a potential change in motion.
Buyers are still in control but an exhaustion pattern (a breakout that stalls and reverses lower) could easily play out.
So be on alert.
Looking at the S&P 500 and Nasdaq (see more in the video below), pullbacks remain buying zones from an intraday perspective at the first pass.
The S&P 500 spread expiring today is around 13 points at the 2775 strike leaving us 2788-2762.
Sellers may step aside and stretch price higher before engaging again. As previously stated, 2760 keeps us firmly in the hands of the buyers today.
Stock Market Futures Update – February 20, 2019
The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.