Bernie's S&P E-Mini Futures Trading Journal

Opening Comments Once again we see a rally in the overnight trading that is challenging the historic highs. And once again we get a weak test without any real break out. We are short 8 contracts with an average price of 2440.00. Our target is held over from early last week at 2419.25. Profit Target for this week is $350 per day, once we close out the current open position. Based on cycle and inter-market analysis that we follow, we are expecting a market correction in the near term, before the end of July. Real Money Trading S&P 500 e-Mini We are short 8 contracts from last with an average price of 2440.00 The 50% Fibonacci retracement level is at 2440. This puts us in a pretty good position for the pullback in the market that we are anticipating. Target set at 2419.25. We continue to monitor the situation. About mid-day we had a very strong decline taking us down to the 2458 level, then a rally back to near the day open. This sets up an outside day with a do...