E-MINI S&P (Z2): Testing The 50-Day EMA

• RES 4: 4234.25 High Aug 26
• RES 3: 4175.00 High Sep 13 and a key resistance
• RES 2: 4146.63 76.4% retracement of the Aug 16 - Oct 13 downleg
• RES 1: 4110.00 High Dec 1
• PRICE: 3937.25 @ 14:23 GMT Dec 7
• SUP 1: 3916.27/3914.00 50-day EMA / Intraday low
• SUP 2: 3912.50 Low Nov 17
• SUP 3: 3750.00 Low Nov 9
• SUP 4: 3704.25 Low Nov 3 and key short-term support

S&P E-Minis have pulled back from last week’s high and the contract traded lower again Tuesday. The move lower is considered corrective - for now. The uptrend that started on Oct 13 remains intact but attention is on support at the 50-day EMA, which intersects at 3916.27. A clear break of this EMA would threaten bullish conditions and suggest potential for a deeper reversal. The bull trigger, to resume recent bullish activity, is at 4110.00, the Dec 1 high.