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Emini S&P: Exit Longs, Try Shorts Up To Last Week's High

Published 04/21/2015, 06:05 AM
Updated 07/09/2023, 06:31 AM

S&P 500 Technicals

The Emini S&P must hold above 2089/90 to build on gains and re-target 2100/2102. Exit longs and try shorts up to last week's high at 2105 but our shorts need a stop above 2108. A break and close above here is positive and should see bulls push on towards alltime highs at 2116/2118.

Failure to hold above 2089 risks a slide to 2080. Try longs with stops below 2075. A break below 2072 keeps the market under pressure for a buying opportunity at 2065/2063. Longs need a stop below 100 day moving average at 2060. A break lower however is much more negative and sees 2063/2065 act as resistance for a test of two and half month trendline support at 2053/2052.

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