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E-MINI S&P (Z1): Back Below Its 50-Day EMA

EQUITY TECHS
  • RES 4: 4539.50 High Sep 3 and the bull trigger
  • RES 1: 4519.75 High Sep 9
  • RES 3: 4481.50 76.4% retracement of the Sep 3 - 20 downleg
  • RES 1: 4472.00 High Sep 27
  • PRICE: 4387.25 @ 14:59 BST Sep 28
  • SUP 1: 4377.75/293.75 Intraday low / Low Sep 20 and bear trigger
  • SUP 2: 4243.50 Low Jul 20
  • SUP 3: 4214.50 Low Jul 19 and a key support
  • SUP 4: 4117.00 Low Jun 21

S&P E-minis are off recent highs and have traded below the 50-day EMA today - the average intersects at 4410.41. A deeper sell-off would highlight a bearish threat and the risk of a pullback towards the key support at 4293.75, Sep 20 low. Price needs to break above 4472.00, Sep 27 high to reinstate the recent bullish theme. This would expose the bull trigger at 4359.50, the Sep 3 high.

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