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SP500 E-mini ($ES_F) Push through 1900.0 Targets 1912.5 & 1926.0

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SP500 E-mini ($ES_F) Push through 1900.0 Targets 1912.5 & 1926.0

S&P 500 late May bullish bias with break above 1900.0

  • Although we have remained very bullish, an unexpected push through the 1898.5 peak and 1900.0 option-related/ psychological level during the Memorial Day holiday session.

  • This now points to a bullish extension bias for Fibo targets 1912.5 & 1926.0 with minor interim levels at 1907.5, 1916.0 and above at 1938.0.

  • The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.


  • Below 1882.75 eases bull risks; through 1865.0 signals a neutral tone, only shifting negative below 1859.0.
Daily SP500 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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