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  • RES 4: 4539.50 High Sep 3 and the bull trigger
  • RES 1: 4519.75 High Sep 9
  • RES 3: 4478.50 High Sep 16
  • RES 1: 4418.00 High Sep 20
  • PRICE: 4371.00@ 06:08 BST Sep 21
  • SUP 1: 4293.75 Low Sep 20 and the 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 started the week on a bearish note. Yesterday's key technical development was the break of the 50-day EMA. This EMA marks an important support and a decisive break suggests scope for a deeper pullback. Furthermore, the breach of 4339.75, Aug 18 low reinforces a bearish threat. Continued weakness would open 4214.50, Jul 19 low. Resistance is 4418.00, Sep 20 high and just above the 50-day EMA.