Free Trial

E-MINI S&P (Z2): Remains Above Last Week’s Low

  • RES 4: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
  • RES 3: 3923.88 50.0% retracement of the Aug 16 - Oct 13 downleg
  • RES 2: 3856.33 50-day EMA
  • RES 1: 3724.56/3820.00 20-day EMA / High Oct 5
  • PRICE: 3618.25 @ 06:40 BST Oct 17
  • SUP 1: 3502.00 Low Oct 13 and the bear trigger
  • SUP 2: 3491.13 50.0% retracement of the 2020 - 2022 bull cycle
  • SUP 3: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing
  • SUP 4: 3388.70 1.764 proj of the Aug 16 - Sep 7 - 13 price swing

A volatile session last Thursday in S&P E-Minis resulted in a strong bounce from the day low as well as the trend low of 3502.00. The recovery suggests that the contract has entered a corrective phase and if correct, this will allow an oversold trend condition to unwind. Attention is on 3724.56, the 20-day EMA. A break would reinforce a bullish theme and open 3820.00, the Oct 5 high. Key support and the bear trigger lies at 3502.00.

To read the full story

Why Subscribe to


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.