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EQUITY TECHS: E-MINI S&P: (H5) Bear Threat

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6194.19 1.236 proj of the Aug 5 - Sep 3 - Sep 9 price swing    
  • RES 3: 6178.75 High Dec 6 and key resistance   
  • RES 2: 6163.75 High Dec 16  
  • RES 1: 6014.44/6107.50 50-day EMA / High Dec 26         
  • PRICE: 5957.00 @ 07:22 GMT Dec 31
  • SUP 1: 5918.25/5866.00 Low Dec 30 / 20       
  • SUP 2: 5811.65 38.2% retracement of the Aug 5 - Dec 6 bull leg  
  • SUP 3: 5784.00 Low Nov 4 
  • SUP 4: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg

A bear threat in the S&P E-Minis contract remains present and the latest move down highlights the end of the recent Dec 20 - 26 corrective bounce. An extension lower would expose 5866.00, the Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance to monitor is 6107.50, the Dec 26 high. A break of this level is required to open key resistance at 6178.75, the Dec 6 high.

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  • RES 4: 6194.19 1.236 proj of the Aug 5 - Sep 3 - Sep 9 price swing    
  • RES 3: 6178.75 High Dec 6 and key resistance   
  • RES 2: 6163.75 High Dec 16  
  • RES 1: 6014.44/6107.50 50-day EMA / High Dec 26         
  • PRICE: 5957.00 @ 07:22 GMT Dec 31
  • SUP 1: 5918.25/5866.00 Low Dec 30 / 20       
  • SUP 2: 5811.65 38.2% retracement of the Aug 5 - Dec 6 bull leg  
  • SUP 3: 5784.00 Low Nov 4 
  • SUP 4: 5698.25 50.0% retracement of the Aug 5 - Dec 6 bull leg

A bear threat in the S&P E-Minis contract remains present and the latest move down highlights the end of the recent Dec 20 - 26 corrective bounce. An extension lower would expose 5866.00, the Dec 20 low and a key short-term support. Clearance of this level would strengthen a bearish theme. Initial firm resistance to monitor is 6107.50, the Dec 26 high. A break of this level is required to open key resistance at 6178.75, the Dec 6 high.