Futures Market Projections

Week of December 23, 2019

With the current political disarray infecting the United States financial sector there is a high level of insecurity and volatility leading into the 2020 trading year. The current sitting United States president Donald Trump has been Impeached by the house and is awaiting the matter to be handed over to the senate to continue the impeachment process.

S&P 500 E-Mini

The S&P 500 E-Mini is in a range previously untested. The S&P 500 E-Mini has experienced an upward trend for 2019 and has followed a gradual pattern of finding the S&P 500 E-Mini’s highest highs to record. In the current representation the S&P 500 E-Mini is expected to experience a pull back to retest a slight resistance range between resistance level 3120.75 and resistance level 3091.75. If the S&P 500 E-Mini can maintain above this resistance range the S&P 500 E-Mini will move to find even higher highs. If the S&P 500 E-Mini is unable to maintain above this resistance range there will be a retest of historically established resistance level 3025.75. Shown in Diagram A

Russell 2000 E-Mini 

The Russell 2000 E-Mini started 2019 with a massive pullback and establish the top of a hallway of sideways consolidation lasting for the majority of the year. With several attempts to reach the previous high set in 2018 at 1745.0. It allowed the Russell 2000 E-Mini to have a historical record of resistance levels to follow. Currently the Russell 2000 E-Mini is testing a slight resistance level at 1672.9 set back in 2018. If the Russell 2000 E-Mini is able to maintain above resistance level 1672.9 the the Russell 2000 E-Mini will move to retest the previous high set in 2018 at 1745.0. If the Russell 2000 E-Mini is unable to maintain above resistance level 1672.9 then the Russell 2000 E-Mini will move to retest resistance level 1635.8. Shown in Diagram B

NASDAQ 100 E-Mini  

The NASDAQ 100 E-Mini has spent all of 2019 following a pattern set by the S&P 500 E-Mini. Currently the NASDAQ 100 E-Mini has set the highest high seen in 2019. With the NASDAQ 100 E-Mini not having a historical resistance level at this range an expected pullback to a slight resistance range between resistance level 8350.75 and resistance level 8168.75. If the NASDAQ 100 E-Mini is able to maintain above this resistance range then the NASDAQ 100 E-Mini will experience higher highs. Show in Diagram C.

 *Charts are created with TradingView, our partner in charting.
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Written by Nenad Jordanoski, Futures Trader and Technical Analyst.
Email: nj@thetrade.academy
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