Steve Miley is - The Market Chartist

Financial Market Technical Chart Blogs from Steve Miley - The Market Chartist

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Bloggers
    Bloggers Search for your favorite blogger from this site.
  • Team Blogs
    Team Blogs Find your favorite team blogs here.
  • Login
    Login Login form

SP500 E-mini ($ES_F) Stays Bullish, But Maybe Set for a Corrective Dip?

Posted by on in Equity Index Chart Updates
  • Font size: Larger Smaller
  • Hits: 1178
  • Print
SP500 E-mini ($ES_F) Stays Bullish, But Maybe Set for a Corrective Dip?

S&P 500 June bull theme intact, but threat of a correction

  • We stated in our last report that “the early June risks remains to a next extension target at 1938.0” and with that target already hit on Thursday, we aim still higher into mid-June, into next week.

  • For Friday, however, we do see risk of a consolidation given intraday and short-term bullish momentum fatigue, for a potential modest setback to minor supports at 1929.5 and maybe 1925/24, with better foundations seen at 1921.0 and 1916.0.

  • Into mid-June, however, we now see risk to Fibo targets at 1970.0 and 1978.0, then little to 1996.0.


  • Below 1921.0 eases bull risks; through 1916.0 signals a neutral tone, only shifting negative below 1913.75.

2 hour SP500 E-mini Future Chart

SP500 E-mini

Daily SP500 E-mini Future Chart

SP500 E-mini

Last modified on
Rate this blog entry:

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.



  • affiliatelogos.png



  • users1.png
  • users2.png
  • users3.png
  • users4.png