S&P 500 E-MINI Futures Overview and Analysis

The main attraction to the S&P 500 E-MINI futures is that it is a type of derivative contracts that provides a trader with an investment price on the expected value of the S&P 500 Index’s future value. The main benefit for using E-MINI futures is the E. With electronic trades being able to be taken place by a trader no matter where they are in the world and do not need to be directly in the pits. Just like the Index the S&P 500 E-MINI Futures share similarities. They both have two main areas of sideways consolidation that drives the trading range.

S&P 500 E-MINI Futures Analysis

In April of 2014 there was a resistance level at 1803.50 that would set the resistance for the coming range of sideways consolidation. The first retest of this resistance level came in October of 2014. In May of 2015 we found our high for the range at 2130.25. With slight sideways consolidation the E-MINI had a massive plunge to come and retest resistance level 1803.50 in August and September of 2015. This was followed by an attempt to come back to retest our high for the range but the volatility in the E-MINI did not allow for this. Consequently there are two more attempts to retest resistance level 1803.50 in January and February of 2016. Not able to maintain below 2130.25 the E-MINI was able to maintain above this resistance level from July and October of 2016 to move on to find a new higher high. Shown in Diagram A. 

Between February and May of 2017 there is a slight range of sideways consolidation that will play a pinnacle role in a future retest of resistance level 2318.00. This would lead into an upward trend to find the new highest high for the S&P 500 E-MINI. Shown in Diagram B.

In January of 2018 The S&P 500 E-MINI Found its first highest high at resistance level 2879.25. With a drastic drop of over 300 points the S&P 500 E-MINI went to retest resistance level 2551.25 in February and April of 2018. With the inability to break below this resistance level the S&P 500 E-MINI formed an upward trend to find its newest high. In September of 2018 the S&P 500 E-MINI was able to maintain Above resistance level 2879.25. With the inability to maintain the S&P 500 E-MINI stayed in a slight range of sideways consolidation before breaking below the range to retest resistance level 2318.00 from December of 2018 to January of 2019. With the S&P 500 E-MINI volatility not allowing it to maintain a downward trend the S&P 500 E-MINI started a trend upward to retest and find a new high. Finally in May of 2019 the S&P 500 E-MINI broke above the previous high in September of 2018. Shown in Diagram C.

Leading into current S&P 500 E-MINI projections. Currently the S&P 500 E-MINI has tested and maintained above the previous high in May of 2019 to find a higher high in unseen levels. If the S&P 500 E-MINI is able to maintain above 2957.00 it will find a new range and higher sustained highs. If the S&P 500 E-MINI is unable to sustain above 2957.00 it will move to retest resistance level 2879.25 which was a previous high in January of 2018. With the Non-Farm Payroll being announced Friday July 5th of 2019 there will be a high level of volatility that will drive the S&P 500 E-MINI’s trajectory to either maintain and find a higher high or retest previous resistance ranges. Shown in Diagram D.

*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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