E-mini S&P stock index futures a selling opportunity on more price weakness.
See on the daily bar chart for the e-mini S&P futures that prices have backed down from the recent record high and a downtrend has been established. The bears have gained some downside near-term technical momentum and would gain more technical power by pushing prices below solid chart support at this week’s low of 1,625.00. That would also become a selling opportunity. The downside price objective would be 1,575.00, or below. Technical resistance, for which to place a protective buy stop just above, is located at 1,650.00.
