'We would be managing risk noting next major support is ~3505,' Fairlead's Stockton on S&P 500

Fairlead Strategies' Katie Stockton on the short-term outlook for the U.S. equities: "The S&P futures are higher this morning in a continuation of yesterday’s strength. This should bring the SPX into initial resistance defined by the cloud model, where we expect the bounce to run out of steam this week. The weekly stochastics still point lower with room to oversold levels, so we would be managing risk noting next major support is ~3505."

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