S&P 500 E-Mini Positive Bias In The Range For Bull Extension Threat
Steve Miley | Jul 01, 2014 03:03AM ET
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 :
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.