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S&P 500 ($ES_F) Bias for a More Bullish Shift

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S&P 500 ($ES_F) Bias for a More Bullish Shift

Reinforcing the Wednesday break above 2100.75 to push through 2112.75 and nudge 2117.5 on Thursday to leave the bias to higher targets into Friday. 

Although we see a wider range theme through mid-July, the bias is for a bullish shift through 2122.0.

For Today:

We see an upside bias through for 2117.5/18.5 and 2122.0; break here aims for 2126.5.

But below 2106.5 opens risk down to 2095.0, maybe 2090.5.

Short/ Intermediate-term Range Parameters: We see the range defined by 2122.0 and 2034.25.

Range Breakout Challenge

Upside: Above 2122.0 aims higher for 2126.5, 2137.25 and 2150.0.

Downside: Below 2034.25 sees risk lower for  2026.0/24.5, 2007.25 and 2000.0.

If you want to see more, you can view the full S&P 500 E-mini report with screencasts, levels and day trade views - click here
And remember, for a FREE trial of our Equity Index Futures and all other reports sign up by clicking here

2 Hour S&P 500 E-mini Future Chart (Sept contract)


Daily S&P 500 E-mini Future Chart (Sept contract) 


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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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