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EQUITY TECHS: E-MINI S&P: (Z4) Bullish Outlook

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5871.77 2.0% Upper Bollinger Band 
  • RES 2: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing
  • RES 1: 5830.00 High Sep 26         
  • PRICE: 5797.75 @ 14:16 BST Oct 4
  • SUP 1: 5728.91 20-day EMA     
  • SUP 2: 5660.56 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback appears to have been a correction. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a Fibonacci projection, and 5900.00 further out. On the downside, initial support  to watch is 5728.91, the 20-day EMA. Key support lies at 5660.56, the 50-day EMA.

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  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5871.77 2.0% Upper Bollinger Band 
  • RES 2: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing
  • RES 1: 5830.00 High Sep 26         
  • PRICE: 5797.75 @ 14:16 BST Oct 4
  • SUP 1: 5728.91 20-day EMA     
  • SUP 2: 5660.56 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback appears to have been a correction. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a Fibonacci projection, and 5900.00 further out. On the downside, initial support  to watch is 5728.91, the 20-day EMA. Key support lies at 5660.56, the 50-day EMA.