The stock market applauded a dovish speech from Fed Chair Jerome Powell.
S&P 500 futures are trying to consolidate gains while holding higher lows.
The short term trend has skewed upward, but we are marching into overhead resistance which is likely to slow the advance.
Trading could get choppy here as the psychology of the market has changed short-term.
Look for trades off of support and resistance with tight stops. Key levels are highlighted in today’s video.
The stock market appears to be in a broader relief bounce. That said, caution is warranted as the big picture is still bearish (until proven otherwise).
Stock Market Futures Video Update – November 29, 2018
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.