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E-MINI S&P TECHS: (U4) Bearish Cycle

EQUITY TECHS
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5741.34 3.382 proj of the Apr 19 - 29 - May 2 price swing
  • RES 3: 5721.25 High Jul 16 and the bull trigger
  • RES 2: 5629.75 High Jul 23
  • RES 1: 5570.08 50-day EMA
  • PRICE: 5479.25 @ 14:22 BST Jul 26
  • SUP 1: 5432.50 Low Jul 25
  • SUP 2: 5429.62 3.0% 10-dma envelope
  • SUP 3: 5370.62 50.0% retracement of the Apr 19 - Jul 16 bull leg
  • SUP 4: 5267.75 Low May 31 and key support

S&P E-Minis have traded lower this week and the move down has resulted in a break of both the 20- and 50-day EMAs. This reinforces a short-term bearish cycle and signals scope for an extension near-term. Note that the move down is considered corrective. Potential is seen for a move towards 5429.62, the lower band of a MA envelope, ahead of 5370.62 a Fibonacci retracement. Key short-term resistance is 5629.75, the Jul 23 high.

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  • RES 4: 5741.34 3.382 proj of the Apr 19 - 29 - May 2 price swing
  • RES 3: 5721.25 High Jul 16 and the bull trigger
  • RES 2: 5629.75 High Jul 23
  • RES 1: 5570.08 50-day EMA
  • PRICE: 5479.25 @ 14:22 BST Jul 26
  • SUP 1: 5432.50 Low Jul 25
  • SUP 2: 5429.62 3.0% 10-dma envelope
  • SUP 3: 5370.62 50.0% retracement of the Apr 19 - Jul 16 bull leg
  • SUP 4: 5267.75 Low May 31 and key support

S&P E-Minis have traded lower this week and the move down has resulted in a break of both the 20- and 50-day EMAs. This reinforces a short-term bearish cycle and signals scope for an extension near-term. Note that the move down is considered corrective. Potential is seen for a move towards 5429.62, the lower band of a MA envelope, ahead of 5370.62 a Fibonacci retracement. Key short-term resistance is 5629.75, the Jul 23 high.