EQUITY TECHS: E-MINI S&P: (H5) Double Top Reversal
Mar-06 14:39
- RES 4: 6178.75 High Dec 6 ‘24 and key resistance
- RES 3: 6166.50 High Jan 19
- RES 2: 6013.11 50-day EMA
- RES 1: 5884.00/5924.0 High Mar 4 / Low Feb 25
- PRICE: 5776.50 @ 14:28 GMT Mar 6
- SUP 1: 5744.00 Low Mar 4
- SUP 2: 5730.00 Low Sep 18 ‘24
- SUP 3: 5698.25 50.0% retracement of the Aug 5 - Dec 6 ‘24 bull leg
- SUP 4: 5658.00 Low Sep 12 ‘24
A bear threat in S&P E-Minis remains present and a sharp sell-off this week reinforces a short-term bearish theme. The contract traded to a fresh short-term cycle low on Tuesday - price has breached support at 5809.00, the Jan 13 low. This highlights a stronger reversal and a double top pattern on the daily scale. A resumption of weakness would open 5698.25, a Fibonacci retracement. Initial firm resistance to watch is 6013.11, the 50-day EMA.
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EQUITIES: US Cash opening calls
Feb-04 14:27
SPX: 6,002.2 (+0.1%); DJIA: 44,373 (-0.1%/-49pts); NDX: 21,341.8 (+0.2%).
CAD: Exchange traded Option
Feb-04 14:25
FX Exchange traded Option, looking for CAD strength, covers Employment Data:
- CADUSD (7th Feb) 69.75p, sold at 0.30 in ~1.2k.
STIR: SOFR Option Update
Feb-04 14:24
- -4,000 SFRM5 95.75/95.87 put spds 2.75 over SFRJ5 95.68/95.81 put spds
- +2,500 SFRZ5 95.50 puts, 10.5 vs. 96.015/0.24%
- -2,500 SFRZ5 96.00/96.50/97.00 call fly w/ 95.00/95.50/96.00/96.60 put condor, 35.25 total ref 96.02
- +10,000 SFRH5 96.25 calls vs -5,000 SFRK5 97.00 calls, 0.25 net
