S&P500 Fut: Has To Sustain Over 2020-2030 For Further Rally

Trading Idea:(SPF)

CMP: 2016

Sell around 2020-2030;

TGT: 2005-1980*-1920-1885-1845-1790* (1-3M)

TSL> 2040

Note: Consecutive closing (3 days) above 2040 zone for any reason, SPF may further rally up to 2075-2095 and 2110-2135 in the near term (alternative bullish case scenario)  

Draghi came out with a "Bazooka" and eventually fired all the shots, but in the epic press conference admitted that he may be fast out of further ammunition (with a caveat that till conditions/inflation did not pick up).

Now, with oil stabilizing between $40-30 in the near term, lower base effect may not be there on the inflation and we may see a hawkish Fed with "hold" stance to keep the differential between USD & EUR. In this way Fed may manage the divergent monetary policy between it and ECB/BOJ/PBOC.

Despite all these, SPF rallied by only 1% so far from yesterday's Pre-ECB level (1995), but it has already rallied around 12% from the recent bottom (1804), which is showing that all the recent central bank's action (FED/ECB/BOJ/PBOC) may be already discounted by the market to a great extent.

On the other side, yesterday's ECB and recent BOJ action prove that Central Bankers are increasingly in a panic & desperate state of mood and may be soon out of ammunition.

Ultimately, recent commodity "boom & bust" indicating that its the "easy money" (QQE), which is largely responsible for reckless addition in production without the corresponding real demand and further QQE or even NIRP/ZIRP may not help the "real street" as expected.  

Analytical Charts: