FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
96,027,401Confirmed
2,049,769Deaths
68,692,236Recovered
Fetching Location Data…
Advertisement
Advertisement
James Hyerczyk
E-mini S&P 500 Index Up

March E-mini S&P 500 Index futures are edging higher late in the session on Wednesday as they await a speech from Federal Reserve Chair Jerome Powell on Thursday and ahead of Friday’s start of earnings season. Investors didn’t seem too concerned about the start of impeachment proceedings against President Donald Trump since he’ll be out of office next Wednesday anyway. They’re main focus is likely on the size of the stimulus package promised by President-elect Joe Biden.

At 20:24 GMT, March E-mini S&P 500 Index futures are trading 3804.25, up 9.75 or +0.26%.

Advertisement
Know where the Market is headed? Take advantage now with 

75% of retail CFD investors lose money

Daily March E-mini S&P 500 Index

Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. A trade through 3817.75 will signal a resumption of the uptrend. The main trend changes to down on a move through 3596.00.

The minor trend is also up. A trade through 3768.00 will change the minor trend to down, shifting momentum to the downside.

The minor range is 3817.75 to 3768.00. Its 50% level at 3792.75 is new support.

The second minor range is 3652.50 to 3817.75. Its 50% level at 3735.00 is additional support. A third minor support level comes in at 3706.75.

Advertisement

Short-term Outlook

A close over the pivot at 3792.75 will put the March E-mini S&P 500 Index in a position to challenge the record high at 3817.75. Taking out this level could trigger an acceleration to the upside.

On the downside, a trade through 3768.00 will shift momentum to the downside, but it won’t change the main trend to down. It will be a sign that investors are more interested in buying value then chasing prices higher.

For a look at all of today’s economic events, check out our economic calendar.

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
IMPORTANT DISCLAIMERS
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.
RISK DISCLAIMER
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.
FOLLOW US