S&P 500 E-Mini Tests Last Wednesday’s Highs: What’s Next?
2023.07.31 06:01
September shot higher to recover much of Thursday’s bearish engulfing candle & steep losses to reach Tuesday and Wednesday’s highs. Further gains test last week’s high at 4634
Support at 4570/60. A break below 4555 should be a sell signal to target 4535 & 4510/4500.
A break above 4640 can target 4670/75, perhaps as far as 4695/99.
Nasdaq September has traded sideways for 2 weeks in a range from 15522/483 up to 16062. A break below 15470 is a sell signal for today targeting 15300/250.A break above the July recovery high at 16040/16060 can target 16300/350.
September staged a recovery after Thursday’s negative action. The question now is whether we break above Thursday’s high at 35483 or Thursday’s low at 35346.
A break above 35500 can target 35850/900.
A break below support at 35400/350 is a sell signal targeting 35100/050.
