Free Trial

S&P 500 E-Minis Look Through 4,500 For First time In Over 1 Year

EQUITIES

Fresh cycle highs for S&P 500 e-minis in the wake of the U.S. CPI data, with the contract above 4,500 for the first time since April ’22. The data allows the contract to build on Asia/London gains, as FOMC-dated OIS eases, while it also emboldens those that lean into the soft-landing narrative. The contract has posted a high 4,510.75 thus far. Bulls look to the 2.236 projection of the May 4-19-24 price swing (4,532.08) as the next level of meaningful technical resistance, after the bull trigger (4,498.00) and round number resistance (4,500) was cleared.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.