E-mini S&P futures a selling opportunity on more price weakness.
See on the daily bar chart for the e-mini S&P stock index futures that prices have slumped and hit a six-week low. Prices have also seen a bearish downside “breakout” from the sideways trading range at higher price levels. The bears have gained downside near-term technical momentum to suggest still more downside price pressure to come. A move below chart support at Monday’s low of 1,767.00 would become a selling opportunity. The downside price objective would be 1,700.00 or below. Technical resistance, for which to place a protective buy stop just above, is located at 1,800.00.
