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S&P 500 E-Mini ($ES_F) Future Poised into #NFP

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S&P 500 E-Mini ($ES_F) Future Poised into #NFP

To view the full S&P500 ($ES_F) future report with screencasts, click here

A further rebound effort as we had expected, but to push above resistance at 2048.25, which we had looked to cap to shift the near term outlook to a range theme.

Range Parameters: We see the range defined by 2067.25 and 1984.25.

Range Breakout Challenge

  • Upside: Above 2067.25 aims higher for 2088.75 and 2100.0.
  • Downside: Below 1984.25 sees risk lower for 1980.75 and 1961.5.

For Today:

  • We see an upside bias towards 2067.25, which we would look to cap for a roll back lower to 2036.0, maybe 2030.5.
  • Only above 2067.25 sets a more bullish tone for 2082.75
  • But below 2036.0 opens risk down through 2030.5 for 2020.25.

Daily S&P500 E-mini Future



4 Hour S&P500 E-mini Future



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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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