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S&P 500 Dec future negative for 1966.0/65.5, maybe key 1957.0

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S&P 500 Dec future negative for 1966.0/65.5, maybe key 1957.0

S&P 500 negative tone

·         A negative shift on Friday, having previously defended support on the Dec contract at 1973.5/73.0 (1981.5/80.75 on Sep contract), the push through here has signalled a move to a range theme, with a downside bias to start the week.

·         Alongside the setback from the topping line resistance (1989.5), we see bias lower for retrace/ chart targets at 1966.0/65.5 next and maybe lower for 1961.5 and 1957.5/57.0.

·         We see the broader range now defined by 1998.0 and 1957.0


·         Downside: Below 1957.0 sees risk lower for 1942.75 and 1932.0.

·         Upside: Above 1998.0 aims higher for 2002.75/03.25 and above to 2011.0.

See full report with levels & latest screencast here:  


4 Hour S&P 500 E-mini December Future Chart



Daily S&P 500 E-mini Future Adjusted Continuation Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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