Stay in Scalper Mode
05/20/2015 7:00 am EST
Even though a very choppy environment is expected in the S&P E-mini Futures as the major holiday weekend approaches, Christopher Terry, of iMarketsLive.com, still shares a video in which he highlights several levels to watch in this scalp-type environment.
Given that the holiday weekend is rapidly approaching, in typical form, many traders may start to drift away from work and head into vacation mode as early as from Wednesday on. This has often been the case, as Memorial Day has generally been viewed by most as the unofficial kick-off of the summer season. In fact, it is already noticeable that the market is starting to form a range-type of action, as we can start to see some lower volatility.
However, although it doesn’t look like this year will be all that different than years prior, there are still several levels to watch for the remainder of the week. It may be time to start—or continue—to play it safe and close to the vest, and to stay in scalper mode with no large targets, but it is still important to keep an eye on these significant levels.
By Christopher Terry, Contributor, iMarketsLive.com