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EQUITY TECHS: E-MINI S&P: (Z4) Corrective Cycle

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: 5974.25/6053.25 High Nov 15 / 11 and the bull trigger      
  • PRICE: 5898.25 @ 14:40 GMT Nov 18
  • SUP 1: 5876.75 20-day EMA   
  • SUP 2: 5826.69 50-day EMA 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The move lower last week in S&P E-Minis appears corrective. Medium-trend signals such as moving average studies, continue to highlight a dominant uptrend. The contract has traded through the 20-day EMA. The next key support to monitor is 5826.69, the 50-day EMA. A clear break of this level would signal scope for a deeper retracement. A resumption of gains would refocus attention on the bull trigger at 6053.25, the Nov 11 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: 5974.25/6053.25 High Nov 15 / 11 and the bull trigger      
  • PRICE: 5898.25 @ 14:40 GMT Nov 18
  • SUP 1: 5876.75 20-day EMA   
  • SUP 2: 5826.69 50-day EMA 
  • SUP 3: 5724.25 Low Nov 4 and a key support   
  • SUP 4: 5675.25 Low Sep 18

The move lower last week in S&P E-Minis appears corrective. Medium-trend signals such as moving average studies, continue to highlight a dominant uptrend. The contract has traded through the 20-day EMA. The next key support to monitor is 5826.69, the 50-day EMA. A clear break of this level would signal scope for a deeper retracement. A resumption of gains would refocus attention on the bull trigger at 6053.25, the Nov 11 high.