TECHS: ***S&P fut. (U0) technical..........>

EQUITIES: TECHS: ***S&P fut. (U0) technical signals are bearish below 3177.75:

- For those who follow candlestick patterns, the focus is on Jun 11.

- On this day a strong sell-off led to wide daily range and also a large body

with the open near session highs and the close near the session low. A body is

the area between the open and close.

- This large body highlights a bearish theme and importantly a resistance area

that will determine whether a bearish outlook prevails near-term. 

- It is common to see markets correct following the type of pattern on Jun 11.

- Typically the midpoint of the body is used as a reference in relation to

resistance. The midpoint is at 3086.25 and has been breached.

- The key resistance however is the Jun 11 high of 3177.75. As long as this

level remains intact, current gains are likely a correction ahead of renewed

weakness that threatens a break of yesterday's low of 2923.75.

- A bullish break of 3177.75 would undermine these bearish developments and

instead expose the trend high of 3220.50, the Jun 8 high.

- See chart: https://emedia.marketnews.com/marketnewsintl/SP.PNG