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E-MINI S&P TECHS: (U4) Bear Threat Remains Present

EQUITY TECHS
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  • RES 4: 5721.25 High Jul 16 and Key resistance
  • RES 3: 5600.75 High Aug 1
  • RES 2: 5483.35 50-day EMA
  • RES 1: 5345.50 High Aug 5
  • PRICE: 5237.75 @ 14:14 BST Aug 6
  • SUP 1: 5120.00 Low Aug 5
  • SUP 2: 5185 50.76.4% retracement of the Apr 19 - Jul 16 bull leg
  • SUP 3: 5092.00 Low May 2
  • SUP 4: 5020 Low Apr 19 and a key support

S&P E-Minis traded lower late last week and the contract started this week on a bearish note - Monday’s move lower marks an extension of the bear cycle. The move down has resulted in a print below 5185.50, 76.4% of the Apr 19 - Jul 16 bear leg. A clear break of this level would open 5092.00 next, the May 2 low. Monday’s intraday high of 5345.50 marks initial resistance. The 50-day EMA, a firmer level, is at 5483.35. Gains are considered corrective - for now.

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  • RES 4: 5721.25 High Jul 16 and Key resistance
  • RES 3: 5600.75 High Aug 1
  • RES 2: 5483.35 50-day EMA
  • RES 1: 5345.50 High Aug 5
  • PRICE: 5237.75 @ 14:14 BST Aug 6
  • SUP 1: 5120.00 Low Aug 5
  • SUP 2: 5185 50.76.4% retracement of the Apr 19 - Jul 16 bull leg
  • SUP 3: 5092.00 Low May 2
  • SUP 4: 5020 Low Apr 19 and a key support

S&P E-Minis traded lower late last week and the contract started this week on a bearish note - Monday’s move lower marks an extension of the bear cycle. The move down has resulted in a print below 5185.50, 76.4% of the Apr 19 - Jul 16 bear leg. A clear break of this level would open 5092.00 next, the May 2 low. Monday’s intraday high of 5345.50 marks initial resistance. The 50-day EMA, a firmer level, is at 5483.35. Gains are considered corrective - for now.