S&P - signals setting up for temporary pullback
​SEP'17 CONTRACT - Bullish signals for S&P sentiment for Q2 and for last week have been confirmed, investors buying the market to post a 3rd higher weekly low & high in a row and to record a fresh Sep'17 contract high on Friday at 2443.2 (2445.2 on Jun). However, there are signs of divergence on momentum and a weakening in shorter-term sentiment. With this in mind, but in the absence of a reversal pattern, the outlook for this week is cautious to start with and to sell the rally at 2455.0 with a stop loss at 2475.0, or to sell down through 2413.0, Friday's low with a stop loss at 2428.3, last week's closing trade. Targets below 2413.0 are to 2401.1, the 2 week base and 2389.8, the 3 week low trade.
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