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EQUITY TECHS: E-MINI S&P: (Z4) Bulls Remain In The Driver’s Seat

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 projection of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11     
  • PRICE: 6016.50 @ 14:30 GMT Nov 13
  • SUP 1: 5927.25 High Oct 17 and a recent breakout level   
  • SUP 2: 5892.23/5809.43 20- and 50-day EMA values 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The trend condition in S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

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  • RES 4: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 projection of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11     
  • PRICE: 6016.50 @ 14:30 GMT Nov 13
  • SUP 1: 5927.25 High Oct 17 and a recent breakout level   
  • SUP 2: 5892.23/5809.43 20- and 50-day EMA values 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The trend condition in S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. A key short-term support has been defined at 5724.25, the Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.