James Hyerczyk
Add to Bookmarks
E-mini S&P 500 Index

March E-mini S&P 500 Index futures are edging lower at the mid-session on Tuesday after posting solid gains the previous session. Helping to put a drag on prices were concerns over relatively high bond yields as well as worries over the progress on the next round of fiscal stimulus negotiations.

The technology sector weighed the most on the benchmark S&P 500 Index. Healthcare, materials and energy stocks extended gains from the previous session.

Know where the Market is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

At 16:36 GMT, March E-mini S&P 500 Index futures are trading 3884.00, down 14.75 or -0.38%.

The U.S. bond market has stabilized since a selloff sent the benchmark 10-year Treasury yield to a one-year high last week, but continue to remain elevated, sparking fears over high valuations in the stock market and emerging as a competitive alternative to equities.

Daily March E-mini S&P 500 Index

Daily Swing Chart Technical Analysis

The main trend is down according to the daily swing chart. Tuesday’s inside trading range suggests investor indecision and impending volatility.

A trade through 3934.50 will change the main trend to up. A move through 3785.00 will signal a resumption of the downtrend.

The minor range is 3959.25 to 3785.00. The market is currently trading on the strong side of its 50% level at 3872.00.

The short-term range is 3656.50 to 3959.25. Its 50% level at 3807.75 is potential support. This is followed by an additional 50% level at 3779.00.


Daily Swing Chart Technical Forecast

The early price action suggests the direction of the March E-mini S&P 500 Index will be determined by trader reaction to 3872.00.

Bullish Scenario

A sustained move over 3872.00 will indicate the presence of buyers. Turning higher for the session will indicate the buying is getting stronger with the next target the main top at 3934.50. Taking out this level will change the main trend to up with 3959.25 the next likely upside target.

Bearish Scenario

A sustained move under 3872.00 will signal the presence of sellers. The first downside target is a pivot at 3848.50, followed by a 50% level at 3807.75, a minor bottom at 3785.00 and another 50% level at 3779.00.

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