E-MINI S&P (Z1): Holds Onto Bulk Of Recent Gains

• 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: 4478.50 High Sep 16
• PRICE: 4434.25 @ 05:50 BST Sep 28
• SUP 1: 4385.75/293.75 Low Sep 23 / 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 holding onto the bulk of recent gains following last week's reversal from 4293.75, Sep 20 low. The contract has cleared a key short-term resistance at 4418.00, Sep 20 high. The break strengthens a bullish case and signals scope for a stronger recovery. Note too that the price remains above the 50-day day EMA and this is a positive development. 4293.75 marks the key support and is the bear trigger.