David Zimmer – AMS Trading
The S&P futures (ESC20: CME) closed on Friday at 3265.35, sixteen points below its opening print of 3281.81, after closing Thursday at 3274.70. Its twenty-two point trading range (3282.99 – 3260.86) gave traders a solid range to work with. Post setting a new intraday high, traders took a little off the table going into the weekend but that’s standard for the week we had.
What the market did give us last week was a downside support level. Despite breaking through the 3215 level on “drone retaliation day” the buyers came back to the table and “bet on black”. Without any consequential economic reports this week all eyes will remain fixed on the Middle East; react on the spikes and don’t get scared away.
A continued shout out to Danny and Marlin for the work they do behind the lines. Everyone writing dialogue on the MrTopStep side deserves to be supported as they all bring something to the process. We at AMS suggest you start your relationship with IMPRO and MiM. I’ve got 50+ years trading commodities and have learned quite a bit from everyone, thanks and best wishes for a good week.