S&P 500 Futures Reversal Triggers Short-Term Trading Buy Signal

I like the S&P 500 futures for a trade right here.

The setup is taking shape following a pullback that has (thus far) held at an important channel support line. And now we see price attempting to reverse higher.

On another system we use, which is a mechanical trading algorithm, we have a buy setting up now as well, and it will trigger with a move above 4589. 

Given where the S&P 500 index is, we would get long here and look to add on a move above 4589. Short covering could fuel this quick trade as the index is very oversold on a short-term basis.

S&P 500 e-mini futures charts

s&p 500 index futures price reversal bullish buy signal chart december 21
s&p 500 futures trading buy signal algorithm research chart

The author or his firm 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.

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