S&P 500 Futures Index Trading Chart
Earlier this week, the S&P 500 Index suffered a meaningful break down and saw follow through selling.
If downside momentum picks up, I have 2700 as an initial target.
We have a negative Money Flow Unit (MFU) developing, and a move below 2795 will confirm that.
Another downside target of the MFU is 2640.
No matter how I look at the current price action, I see short-term risk rising and the potential for more downside from here.
The author may have 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.
