The S&P 500 didn't waver towards the closing bell, and neither in the overnight session. The tendency of post-Fed moves to carry over to the next day didn't work out this time, and the short-term swing structure makes it justified to expect stocks to go on with their slow grind higher as the bull market isn't over by a long shot.

A few more thoughts on the short-term swing structure and the bearish overtone mentioned in the preceding Stock Trading Alert. These offer odds for a move to continue, to reassert itself after a brief appearance - and that can happen via an intraday or late-day reversal.

That didn't happen, and the selling pressure at the entry to the European session is likely to fizzle out just as the attempts during second half of yesterday's trading did - and that makes it justified to close the short position at market, and simultaneously open a long one.

Please find below the details.

Trading position (short-term; futures; our opinion): long positions (100% position size) (entered at market and simultaneously with closing the preceding short position - that's 3386 currently) with stop-loss at 3330 and initial upside target at 3400 are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading Strategist
Sunshine Profits: Analysis. Care. Profits.