January 24, 2023 07:05 GMT
E-MINI S&P (H3): North of Last Week’s Highs
EQUITY TECHS
- RES 4: 4194.25 High Sep 13
- RES 3: 4180.00 High Dec 13 and the bull trigger
- RES 2: 4090.75 High Dec 14
- RES 1: 4056.75 High Jan 23
- PRICE: 4037.25 @ 06:54 GMT Jan 24
- SUP 1: 3901.75/3891.50 Low Jan 19 / Low Jan 10
- SUP 2: 3788.50/78.45 Low Dec 22 / 61.8% of Oct 13-Dec 13 uptrend
- SUP 3: 3735.00 Low Nov 3
- SUP 4: 3670.00 76.4% retracement of the Oct 13 - Dec 13 uptrend
S&P E-Minis traded higher Monday and breached resistance at 4035.25, the Jan 17 high. The break cancels a recent bearish threat and resumes short-term bullish conditions. Note that moving average studies are in a bull mode condition and this reinforces current trend conditions. The focus is on 4090.75 - last seen in mid-December. Key short-term support lies at 3901.75, the Jan 19 low. A break would reinstate a bearish threat.
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