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E-MINI S&P (Z2): Uptrend Remains Intact

EQUITY TECHS
  • RES 4: 4100.00 Round number resistance
  • RES 3: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
  • RES 2: 3981.25 High Sep 14
  • RES 1: 3928.00 Intraday high
  • PRICE: 3921.25 @ 13:25 BST Nov 1
  • SUP 1: 3757.50/3641.50 Low Oct 27 / 21
  • SUP 2: 3590.50/3502.00 Low Oct 17 / 13 and the bear trigger
  • SUP 3: 3491.13 50.0% retracement of the 2020 - 2022 bull cycle
  • SUP 4: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis trend condition remains bullish and Friday’s resumption of the short-term uptrend has reinforced current conditions. Last week’s climb resulted in a break of 3820.00, Oct 5 high. Furthermore, price is again above the 50-day EMA, at 3836.32. Sights are on 3981.25 next, the Sep 14 high. On the downside, key short-term support has been defined at 3641.50, the Oct 21 low. Initial firm support to watch is at 3757.50, the Oct 27 low.

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