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S&P 500 E-Mini Positive Bias In The Range For Bull Extension Threat

Published 07/01/2014, 03:03 AM
Updated 12/12/2023, 05:55 AM

S&P 500 risk skewed to further upside

A probe higher to end June after a very erratic tone last week, but a nudge above 1954.0 resistance further eases topping pressures from the significant bearish outside pattern last Tuesday, back from a new all-time high (1960.0).

The rebound from ahead of the retracements at 1935.75/33.75 and the key swing low at 1929.5 alongside the push through 1954.0 is shifting risk for a bullish extension.

Whilst holding 1929.5, we still see risk above 1960 and into early July for a move higher for Fibo targets 1963 and maybe 1983.

WHAT CHANGES THIS?

Below 1933.75 eases bull risks; through 1929.25 signals a neutral tone, only shifting negative below 1917.5.

See full report with levels & latest screencast here:

4 hour S&P 500 E-mini September Future

Daily S&P 500 E-mini September

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