The Market is Closing In on My Trading Point

As predicted last week in my Friday Blog Post for TraderKingdom.com I said that the S&P still needs to HIT my Trading Point of 1107.50 for the eMini June Contract.  Yesterday’s action brought the S&P down to 1112.75.  We should HIT my Trading Point of 1107.50 in the next couple of sessions.  If the S&P continues past 1107.50; then it will likely head down to 1090.75 to 1093.00 before finding support.  If the S&P does not find support then I will update this blog with my projection (it’s not pretty).

I will let you know when the Market has finally found support.  Therefore, please continue to read my posts here and at TraderKingdom.com.

New Trading Point (to the upside):

1156.25