Free Trial

E-MINI S&P (H2): Strength Persists Post-Holidays

EQUITY TECHS
  • RES 4: 4863.55 123.6% Fib Extension for the Dec 20 - 28 Upleg
  • RES 3: 4854.19 0.764 proj of the Oct 1 - Nov 22 - Dec 3 price swing
  • RES 2: 4800.00 Round number resistance
  • RES 1: 4798.00 High Dec 28 and the ATH
  • PRICE: 4784.75 @ 08:14 GMT Dec 30
  • SUP 1: 4595.14/4520.25 50-day EMA / Low Dec 20
  • SUP 2: 4485.75 Low Dec 3 and bear trigger
  • SUP 3: 4493.88 61.8% retracement of the Oct 1 - Nov 22 rally
  • SUP 4: 4436.97 76.4% retracement of the Oct 1 - Nov 22 rally

S&P E-minis hold the entirety of the rally triggered on Dec 20, as prices recovered off the 100-dma at 4537.57. The resulting alltime high at 4798.00 sits just below psychological resistance of 4800 - a recovery beyond which opens 4854.20 and 4863.6. Should prices turn lower, the 100-dma provides initial support ahead of the Dec20 lows of 4520.25.

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.