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E-MINI S&P (Z1): Corrective Pullback

EQUITY TECHS
  • RES 4: 4800.00 Round number resistance
  • RES 1: 4783.40 1.764 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 2: 4746.68 1.618 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • RES 1: 4717.00 1.50 proj of Jul 19 - Aug 16 - Aug 19 price swing
  • PRICE: 4652.50 @ 14:34 GMT Nov 11
  • SUP 1: 4585.38 20-day EMA
  • SUP 2: 4543.75 Low Oct 27
  • SUP 3: 4501.78/ 4472.00 50-day EMA / High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis maintain a bullish tone and this week's pullback is considered corrective. Another all-time high print was registered Nov 5. Continued gains confirm a resumption of the uptrend and the focus is on 4717.00 next, a Fibonacci projection. Trend signals such as moving average studies remain in a bull mode, reinforcing current conditions and market sentiment. The 50-day EMA at 4501.78 continues to represent a key support handle.

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