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E-MINI S&P (H3): Watching Support

EQUITY TECHS
  • RES 4: 4208.50 High Feb 2 and key resistance
  • RES 3: 4141.59 61.8% retracement of the Feb 2 - Mar 2 bear le
  • RES 2: 4100.20 61.8% retracement of the Feb 2 - Mar 2 bear leg
  • RES 1: 4082.50 High Mar 6
  • PRICE:3990.25 @ 08:01 GMT Mar 8
  • SUP 1: 3974.00 Low Mar 3
  • SUP 2: 3925.00/3901.75 Low Mar 2 / Low Jan 19
  • SUP 3: 3787.62 76.4% retracement of the Dec 22 - Feb 2 bull cycle
  • SUP 4: 3819.00 Low Jan 6

The S&P E-Minis trend condition is bearish and yesterday’s move lower signals the end of the recent corrective bounce. A continuation lower would pave the way for weakness towards the next key support at 3925.00, Mar 2 low. This level is a bear trigger and a breach would confirm a resumption of the bear leg that started on Feb 2. For bulls, a break of 4082.50, the Mar 6 high, is required to reinstate a bullish theme.

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