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E-MINI S&P (H3): Remains Below Resistance At The 50-Day EMA

EQUITY TECHS
  • RES 4: 4250.00 High Aug 26
  • RES 3: 4194.25 High Sep 13 and a key resistance
  • RES 2: 4043.00/4180.00 High Dec 15 / 13 and the bull trigger
  • RES 1: 3926.25 50-day EMA and a key resistance
  • PRICE: 3878.50 @ 14:30 GMT Jan 3
  • SUP 1: 3778.45 61.8% retracement of the Oct 13 - Dec 13 uptrend
  • SUP 2: 3735.00 Low Nov 3
  • SUP 3: 3670.00 76.4% retracement of the Oct 13 - Dec 13 uptrend
  • SUP 4: 3735.00 Low Oct 21

S&P E-Minis trend signals remain bearish and recent gains are considered corrective. Key resistance to watch is at 3926.25, the 50-day EMA. A clear break of this hurdle is required to suggest potential for a stronger recovery and possibly a reversal. On the downside, a break lower would confirm a resumption of the downtrend with the focus on 3778.45, a Fibonacci retracement.

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