Futures went into megaphone strategy — how to play E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! xdire At the beginning of the week, $ES_F established few trendlines creating a big probability for the start of the megaphone pattern, and we rocked it in the previous idea: We will be looking at the bottom of the BB channel and allow it to extend a little bit to the downside whereas we know MMs like to kill stop-loss positions before bumping futures back into the game. Watch the levels around 3690 for the long position until mid-bb or a little bit above it to the previous Fib column which yet still in play. Also, be aware of rising VIX which can incur some down-pressure to the equities, however yet Fed promised to buy as long as investors are at risk. Invalidation probably at 3670, however practical bottom 3640