S&P 500 E-MINI Futures

FUTURES MARKET PROJECTIONS

Week of Dec 16, 2019

Current FMP analysis.

Starting in March of 2019 the S&P 500 E-mini retested previous resistance level 2780.00 beginning a range low the S&P 500 E-mini would be able to sustain. With no other option but to attempt and find higher highs the S&P 500 E-mini moved to test lower median range resistance level 2807.25. With slight sideways consolidation the S&P 500 E-mini was able to move and sustain above the median range resistance level 2879.25 from April 4, 2019 to May 9, 2019 retesting the higher median range resistance level 2932.25. With high volatility pushing to retest lower median range resistance level 2807.25 consequently lead to sideways consolidation until testing the range low resistance level 2728.00. With the S&P 500 E-mini unable to push past this lower threshold there is a clear upward trend line leading into the range and S&P 500 E-mini highest high in July 16, 2019. With slight sideways consolidation the the range high was found on July 26, 2019 at resistance level 3025.75. Followed by a bearish downward trend leading into an area of sideways consolidation between August 2, 2019 to September 3, 2019 confined between top median range resistance level 2932.75 and lower median range resistance level 2807.25. The instability of sideways consolidation ended with a volatile upward push to retest the range high of 3025.75 in mid September of 2019. With the S&P 500 E-mini inability to maintain or reach the previous high there is one last retest of median range resistance level 2879.25 on October 2, 2019. Leading to the first highest high seen since July 26, 2019 on October 28, 2019.


S&P 500 E-mini
With no previous data or resistance levels in the current range of the S&P 500 E-mini the only option is to obtain more information on current world events and adjust accordingly. Unfortunately with the clear disarray of world markets there is a high level of uncertainty. In the current range of the S&P 500 E-mini there is a slight resistance level at 3092.75 and resistance level 3120.75. If this trend continues the S&P 500 E-mini is on its way to find higher highs. If the trend is unsustainable there will be a retest of these slight resistance levels before retesting the previous highest high resistance level 3025.75. Shown in diagram A.

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