© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
US TSYS

What Recession?

US TSYS

Eurodollar/SOFR/ Tsy Options Roundup

PIPELINE

Corporate Issuance Over $60B/Wk

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

E-MINI S&P (U2): Gains Considered Corrective

EQUITY TECHS
markets-real-timeBulletMarketsFixed IncomeForeign Exchange
  • RES 4: 4396.75 High Apr 22
  • RES 3: 4308.50 High Apr 28
  • RES 2: 4047.65/4204.75 50-day EMA / High May 31
  • RES 1: 3843.00/3893.38 High Jun 15 / 20-day EMA
  • PRICE: 3835.00 @ 14:31 BST June 24
  • SUP 1: 3639.00 Low Jun 17 and the bear trigger
  • SUP 2: 3578.27 0.618 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3500.00 Round number support
  • SUP 4: 3384.75 0.764 proj of the Mar 29 - May 20 - 31 price swing

A bearish threat in S&P E-Minis remains present despite this week’s recovery and short-term gains are considered corrective. Moving average studies are in a bear mode condition and recent fresh cycle lows point to a continuation of the trend. The focus is on 3600.00 next, and below. Initial resistance is at 3843.00, the Jun 15 high. The next firm resistance is seen at 3893.38, the 20-day EMA. A break would signal scope for a stronger short-term recovery.

157 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 4396.75 High Apr 22
  • RES 3: 4308.50 High Apr 28
  • RES 2: 4047.65/4204.75 50-day EMA / High May 31
  • RES 1: 3843.00/3893.38 High Jun 15 / 20-day EMA
  • PRICE: 3835.00 @ 14:31 BST June 24
  • SUP 1: 3639.00 Low Jun 17 and the bear trigger
  • SUP 2: 3578.27 0.618 proj of the Mar 29 - May 20 - 31 price swing
  • SUP 3: 3500.00 Round number support
  • SUP 4: 3384.75 0.764 proj of the Mar 29 - May 20 - 31 price swing

A bearish threat in S&P E-Minis remains present despite this week’s recovery and short-term gains are considered corrective. Moving average studies are in a bear mode condition and recent fresh cycle lows point to a continuation of the trend. The focus is on 3600.00 next, and below. Initial resistance is at 3843.00, the Jun 15 high. The next firm resistance is seen at 3893.38, the 20-day EMA. A break would signal scope for a stronger short-term recovery.