MNI BRIEF: ECB's De Guindos Calls For EU Retail Saving Product

MNI BRIEF: BOJ's Ueda Says Markets Unstable, Vigilance Needed

US SEP MANUFACUTURING PMI 47.3 (FLASH 47.0, AUG 47.9)

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI BRIEF: Turkish Inflation Expectations Ease As CBRT Holds

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR +3.89M TO 416.9M SEP 27 WK

US MBA: REFIS -3% SA; PURCH INDEX +1% SA THRU SEP 27 WK

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITY TECHS: E-MINI S&P: (Z4) MA Studies Highlight A Dominant Uptrend

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: 5744.75 @ 07:17 BST Oct 2
  • SUP 1: 5723.22 20-day EMA     
  • SUP 2: 5652.72 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 is considered corrective. Last week’s fresh cycle highs 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 5723.22, the 20-day EMA. Key support lies at 5652.72, the 50-day EMA.

141 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • 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: 5744.75 @ 07:17 BST Oct 2
  • SUP 1: 5723.22 20-day EMA     
  • SUP 2: 5652.72 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 is considered corrective. Last week’s fresh cycle highs 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 5723.22, the 20-day EMA. Key support lies at 5652.72, the 50-day EMA.