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

December E-mini S&P 500 Index futures are trading higher on Thursday shortly after the cash market opening as investors bet on more fiscal stimulus after data showed a recovery in the labor market was slowing.

The number of Americans filing for jobless benefits fell to 837,000 in the week ended September 26, but claims could rise again over the next few weeks as businesses cut more jobs to ride out the recession.

At 15:20 GMT, December E-mini S&P 500 Index futures are trading 3367.00, up 15.00 or +0.45%.

Six of the 11 major S&P sectors were trading higher after the Trump administration proposed a new stimulus bill to House Democrats worth more than $1.5 trillion, which includes a $20 billion extension in aid for the battered airline industry.

Daily December E-mini S&P 500 Index

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart, but momentum is trending higher. A trade through 3419.50 will change the main trend to up. A move through 3198.00 will change the main trend to down.

The minor trend is up. This is driving the momentum higher. A trade through 3291.25 will change the minor trend to down. This will also shift momentum to the downside.

The minor support levels are 3308.75 and 3293.00.

The major support zone is 3246.25 to 3168.50.

The short-term range is 3576.25 to 3198.00. Its retracement zone at 3387.25 to 3431.75 is potential resistance. The main top at 3419.50 falls inside this zone.


Daily Swing Chart Technical Forecast

Based on the early price action, the direction of the December E-mini S&P 500 Index into the close is likely to be determined by trader reaction to the 50% level at 3387.25.

Bullish Scenario

A sustained move over 3387.25 will indicate the presence of buyers. This could trigger an acceleration into 3419.50, followed closely by the Fibonacci level at 3431.75.

Bearish Scenario

A sustained move under 3387.25 will signal the presence of sellers. If this is able to generate enough downside pressure then look for a pullback into 3308.75 then 3293.00 over the near-term.

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
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.