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E-MINI S&P TECHS: (M4) Bear Cycle Still In Play

EQUITY TECHS
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5400.00 Round number resistance
  • RES 3: 5285.00/5333.50 High Apr 10 / 1 and the bull trigger
  • RES 2: 5181.29 20-day EMA
  • RES 1: 5095.25/5146.82 High Apr 18 / 50-day EMA
  • PRICE: 5052.75 @ 14:44 BST Apr 19
  • SUP 1: 4963.50 Intraday low
  • SUP 2: 4907.57 50.0% retracement of the Oct 27 ‘23 - Apr 1 bull leg
  • SUP 3: 4863.75 Low Jan 19
  • SUP 4: 4799.50 Low Jan 17

The short-term trend condition in S&P E-Minis is unchanged and remains bearish. Today’s initial extension lower reinforces current short-term conditions. The contract has this week cleared support at the 50-day EMA, signalling scope for a continuation lower near-term. Sights are on 4907.57 next, a Fibonacci retracement. Firm resistance is seen at 5181.29, the 20-day EMA. A clear break of the average would signal a possible reversal.

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  • RES 4: 5400.00 Round number resistance
  • RES 3: 5285.00/5333.50 High Apr 10 / 1 and the bull trigger
  • RES 2: 5181.29 20-day EMA
  • RES 1: 5095.25/5146.82 High Apr 18 / 50-day EMA
  • PRICE: 5052.75 @ 14:44 BST Apr 19
  • SUP 1: 4963.50 Intraday low
  • SUP 2: 4907.57 50.0% retracement of the Oct 27 ‘23 - Apr 1 bull leg
  • SUP 3: 4863.75 Low Jan 19
  • SUP 4: 4799.50 Low Jan 17

The short-term trend condition in S&P E-Minis is unchanged and remains bearish. Today’s initial extension lower reinforces current short-term conditions. The contract has this week cleared support at the 50-day EMA, signalling scope for a continuation lower near-term. Sights are on 4907.57 next, a Fibonacci retracement. Firm resistance is seen at 5181.29, the 20-day EMA. A clear break of the average would signal a possible reversal.