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

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6012.75 1.00 projection of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6000.00 Psychological handle
  • RES 2: 5961.00 1.00 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 5844.00/5927.25 Intraday high / High Oct 17 and bull trigger 
  • PRICE: 5773.00 @ 14:34 GMT Oct 31
  • SUP 1: 5765.76  50-day EMA  
  • SUP 2: 5724.00 Low Oct 2
  • SUP 3: 5675.25 Low Sep 18  
  • SUP 4: 5658.00 Low Sep 13

S&P E-Minis are down sharply today. The contract has cleared the 20-day EMA and this exposes the next important support at 5765.76, the 50-day EMA. A clear break of this EMA, would strengthen a short-term bearish threat and signal scope for a deeper retracement. This would open 5724.00, the Oct 2 low. On the upside, a reversal higher would refocus attention on the key resistance and bull trigger at 5927.25, the Oct 17 high.

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  • RES 4: 6012.75 1.00 projection of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6000.00 Psychological handle
  • RES 2: 5961.00 1.00 projection of the Sep 6 - 17 - 18 price swing
  • RES 1: 5844.00/5927.25 Intraday high / High Oct 17 and bull trigger 
  • PRICE: 5773.00 @ 14:34 GMT Oct 31
  • SUP 1: 5765.76  50-day EMA  
  • SUP 2: 5724.00 Low Oct 2
  • SUP 3: 5675.25 Low Sep 18  
  • SUP 4: 5658.00 Low Sep 13

S&P E-Minis are down sharply today. The contract has cleared the 20-day EMA and this exposes the next important support at 5765.76, the 50-day EMA. A clear break of this EMA, would strengthen a short-term bearish threat and signal scope for a deeper retracement. This would open 5724.00, the Oct 2 low. On the upside, a reversal higher would refocus attention on the key resistance and bull trigger at 5927.25, the Oct 17 high.