MNI BRIEF: BOE To Cut Only Once More In 2025 -NIESR

MNI: Fed's Williams Sees Policy Rate As Modestly Restrictive

MNI BRIEF: Fed's Powell - Neutral Rate Has Risen Meaningfully

MNI BRIEF: Fed Would Use QE Only When Rates At Zero - Powell

MNI BRIEF: Fed's Hammack Says Rate Hike Not In Base Case

MNI: Fed's Hammack Wants To Hold Rates Steady For Some Time

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK Bond Supply Calendar: France Syndication "Near Future"

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITY TECHS: E-MINI S&P: (H5) Short-Term Reversal Threat

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6178.75 High Dec 6 and key resistance    
  • RES 3: 6162.25 High Jan 24 
  • RES 2: 6147.75 High Jan 31 
  • RES 1: 6123.25 High Feb 7                  
  • PRICE: 6067.50 @ 08:13 GMT Feb 11 
  • SUP 1: 6014.00/5935.50 Intraday low / Low Feb 3           
  • SUP 2: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 3: 5842.50 Low Jan 14 
  • SUP 4: 5809.00 Low Jan 13 and a key resistance 

The initial sell-off on Feb 3 in the S&P E-Minis contract and the breach of support at 5948.00, Jan 27 low, continues to highlight a possible S/T reversal threat. If correct, it suggests that the latest bounce is a correction. A resumption of weakness would open 5892.37, a Fibonacci retracement point. On the upside, a stronger rally would expose key resistance at 6178.75, the Dec 6 ‘24 high. Clearance of this hurdle would resume the primary uptrend.     

149 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • RES 4: 6178.75 High Dec 6 and key resistance    
  • RES 3: 6162.25 High Jan 24 
  • RES 2: 6147.75 High Jan 31 
  • RES 1: 6123.25 High Feb 7                  
  • PRICE: 6067.50 @ 08:13 GMT Feb 11 
  • SUP 1: 6014.00/5935.50 Intraday low / Low Feb 3           
  • SUP 2: 5892.37 76.4% retracement of the Aug 5 - Dec 6 bull leg
  • SUP 3: 5842.50 Low Jan 14 
  • SUP 4: 5809.00 Low Jan 13 and a key resistance 

The initial sell-off on Feb 3 in the S&P E-Minis contract and the breach of support at 5948.00, Jan 27 low, continues to highlight a possible S/T reversal threat. If correct, it suggests that the latest bounce is a correction. A resumption of weakness would open 5892.37, a Fibonacci retracement point. On the upside, a stronger rally would expose key resistance at 6178.75, the Dec 6 ‘24 high. Clearance of this hurdle would resume the primary uptrend.