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S&P 500 Future Bull Risks through 2000!!

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S&P 500 Future Bull Risks through 2000!!

S&P 500 bullish extension bias

·         A resilient pause at the end of last week and as expected, re-energizing of bullish pressures already this week having stated “this leaves threat for latter August to 1996.0 next and maybe the psychological/ option-related target at 2000.0!!”

·         Hesitancy at the 2000 level on Monday (through the cash market overcame this level), but the high level digestion above modest support at 1988.75 and better foundations at 1981.5/80.75 leaves upside through 2000 this week (today).

·         A break above aims for 2012.5 and maybe 2020 and 2027.25 targets

WHAT CHANGES THIS?

·         Below 1980.75 eases bull risks; through 1969.0 signals a neutral tone, only shifting negative below 1937.25.

See full report with levels & latest screencast here:  http://members.marketchartist.com/Daily/sp500.pdf  

 

 

2 Hour S&P 500 E-mini September Future 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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