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Emini S&P: Bullish Breakout Didn't Happen

By Jason SenStock MarketsApr 13, 2018 06:01AM ET
www.investing.com/analysis/emini-sp-daily-forecast--13-april-2018-200305266
Emini S&P: Bullish Breakout Didn't Happen
By Jason Sen   |  Apr 13, 2018 06:01AM ET
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Emini S&P Weekly Chart
Emini S&P Weekly Chart

Emini S&P bullish breakout did not happen as we trade back below 2 week trend line resistance at at 2666/67 & last weeks high at 2670/72. A break above the 2 week high at 2677/79 would be needed to target 2687/89 before an excellent selling opportunity at 2694/97.

Having hit congestion yesterday we are turning lower to first support at 2648/46. A break below 2641 targets second support at 2631/29. A break below 2625 keeps the pressure on for 2618/16, perhaps as far as 2612/10 before the best support for today at 2607/04. Longs need stops below 2595. A weekly close below 2600 is an important sell signal for the start of next week.

Emini S&P: Bullish Breakout Didn't Happen
 

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Emini S&P: Bullish Breakout Didn't Happen

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Solomon Lalani
Solomon Apr 13, 2018 6:53AM ET
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Told you breakout will happen. Here you have it!
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Solomon Lalani
Solomon Apr 13, 2018 6:26AM ET
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Wait a while. There'll be break out. It's earnings season!
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