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E-MINI S&P (U1): Fresh All-Time High

EQUITY TECHS
  • RES 4: 4600.00 Round number resistance
  • RES 3: 4580.21 1.382 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 2: 4542.58 1.236 proj of Jun 21 - Jul 14 - 19 price swing
  • RES 1: 4513.25 High Aug 25
  • PRICE: 4508.25 @ 06:56 BST Aug 30
  • SUP 1: 4441.31 20-day EMA
  • SUP 2: 4372.27 50-day EMA
  • SUP 3: 4347.75 Low Aug 19 and the bear trigger
  • SUP 4: 4224.00 Low Jul 19 and key support

S&P E-minis outlook remains bullish. The contract has traded to a fresh all-time high of 4513.25 today and the move higher confirms a resumption of the uptrend. The contract's recent recovery from 4347.75, Aug 19 low means the 50-day EMA remains intact. This average intersects at 4372.27 and represents a key support area. A clear break of the 50-day EMA is required to signal a short-term reversal. Bullish.

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