Monday’s Futures Setups

There was good news and bad news in the
broader index futures today. First the bad. Not since May of 1997 have we
closed at these levels on the S&P 500 Index ($SPX.X).
The Sept. S&P futures (SPU2)
which follow the SPX closely dropped 30.50 or 2.48% to 845. The good news is if you knew how to short the
SPU2 or the S&P 500 E-Mini futures (ESU2),
you could have made a nice profit on the declines.

A great way to better understand the futures
markets and how to take advantage of days like today, is to take the online
course with Lewis Borsellino.
Click Here
to take it.

The Nasdaq 100 ($NDX.X)
pulled back at the open and touched its -1.28 Volatility band at (966.40) it
then began to rally from that point, but still continued bearish into the
afternoon. The Nasdaq 100 has been able to stay above the 950 support level, but
a break below this level could give way to the 933 secondary support level.
Overhead resistance is at 995 and secondary resistance is at 1007. The
September Nasdaq 100 (NDU2)
and the Sept Nasdaq 100 E-Minis (NQU2)
fell to the -1.28 Volatility Band. What traders will be looking for Monday is
maybe some bargains, that may help push the indexes back upwards. STAY
TUNED……