Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk
E-mini S&P 500 Index

September E-mini S&P 500 Index futures are called flat shortly before the cash market opening. Investors have been showing little reaction to this week’s batch of earnings reports as most of the major players remain on the sidelines ahead of the July 25 European Central Bank and July 30-31 Federal Reserve monetary policy meetings.

At 13:21 GMT, September E-mini S&P 500 Index futures are trading 3007.00, unchanged.

Daily September E-mini S&P 500 Index

Daily Technical Analysis

The main trend is up according to the daily swing chart. A trade through 3023.50 will signal a resumption of the uptrend. A trade through 2963.50 will change the main trend to down.

The short-term range is 2963.50 to 3023.50. Its retracement zone at 2993.50 to 2986.50 is the first downside target.

The intermediate range is 2914.50 to 3023.50. If the trend changes to down then look for the selling to possibly extend into its retracement zone at 2969.00 to 2956.00.


Daily Technical Forecast

Based on the early price action, the direction of the September E-mini S&P 500 Index on Wednesday is likely to be determined by trader reaction to the downtrending Gann angle at 3007.50.

Bullish Scenario

A sustained move over 3007.50 will indicate the presence of buyers. The first two targets are Gann angles at 3011.50 and 3015.50.

Taking out 3015.50 could trigger an acceleration to the upside with the next targets the main top at 3023.50 and an uptrending Gann angle at 3026.50. Crossing to the strong side of the angle at 3026.50 will put the index in a bullish position.

Bearish Scenario

A sustained move under 3007.50 will signal the presence of sellers. If this move creates enough downside momentum then look for the selling to possibly extend into a short-term 50% level at 2993.50 and a potential support cluster at 2987.50 to 2986.50.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.