S&P 500: Short-Term Sell (Update)
S&P 500 Futures, 4-Hour Chart Analysis
The S&P 500 has been pushed higher by the strength in the energy sector today, and the index got close to its previous highs near the 2400 level. Should the rally continue, our stop-loss recommendation might be in play in the coming days at 2412. The benchmark has been lagging the market leaders in the past two weeks, but a rally to new all-time highs could mean another swing higher before a significant correction. Traders holding long positions should keep stop-losses near the 2370 level, below the short-term support and the rising short-term trendline.