September 9, 2016

S&P 500 Futures chart update

  • Daily close below 50 Day SMA will extend weakness into next week.
  • Next support zone is at 2141 level. If 2141 does not hold then support in daily time frame is at 2119.

ES Support levels and bearish targets

  • Immediate support levels in daily chart.
  • 50 Day SMA and the support resistance line drawn in second chart are crucial for es bulls to hold above.
  • If these levels are not held the targets are 2154 and 2140 levels.
  • Last chart shows possible bearish scenario