MNI BRIEF: Powell Says US Is 'Far' From Fiscal Dominance

MNI BRIEF: US Firms Wary of Tariff-Related Inflation - Fed

MNI: US NOV FINAL SRVCS PMI 56.1 (FLASH 57.0); OCT 55.0

MNI NBP WATCH: Rates Held, Outlook Unchanged

MNI BRIEF: Barkin Aims For 'Somewhat Restrictive' Fed Rates

MNI China Daily Summary: Wednesday, Dec 4

EZ/UK Bond Supply Calendar: Spain, France Auction, UK Tender

US EIA: CRUDE OIL STOCKS EX SPR -5.07M TO 423.4M NOV 29 WK

MNI: US ISM NOV SERVICES COMPOSITE INDEX 52.1

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

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

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 proj of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 proj of the Sep 6 - 17 - 18 price swing
  • RES 1: 6068.50 High Dec 2      
  • PRICE: 6060.00 @ 15:07 GMT Dec 3
  • SUP 1: 5970.46 20-day EMA      
  • SUP 2: 5883.29 50-day EMA 
  • SUP 3: 5814.75 Low Nov 6   
  • SUP 4: 5724.25 Low Nov 4 and a key support

On Friday, S&P E-Minis pierced key resistance and the bull trigger at 6053.25, the Nov 11 high. This confirms a resumption of the uptrend and the contract is holding on to its latest gains. Note that moving average studies remain in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6070.16, a Fibonacci projection point. Initial support to watch lies at 5970.46, the 20-day EMA.

151 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: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 proj of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 proj of the Sep 6 - 17 - 18 price swing
  • RES 1: 6068.50 High Dec 2      
  • PRICE: 6060.00 @ 15:07 GMT Dec 3
  • SUP 1: 5970.46 20-day EMA      
  • SUP 2: 5883.29 50-day EMA 
  • SUP 3: 5814.75 Low Nov 6   
  • SUP 4: 5724.25 Low Nov 4 and a key support

On Friday, S&P E-Minis pierced key resistance and the bull trigger at 6053.25, the Nov 11 high. This confirms a resumption of the uptrend and the contract is holding on to its latest gains. Note that moving average studies remain in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on 6070.16, a Fibonacci projection point. Initial support to watch lies at 5970.46, the 20-day EMA.