S&P 500 Futures Trading Update: Can Bulls Rebound?

s&p 500 futures june 14 trading price analysis research news image

Broad Stock Market Futures Outlook for June 14, 2018

The Federal Reserve stayed the course and raised interest rates 25 basis points yesterday. The first dip into support has occurred and found buyers.

The key for bulls and bears will revolve around 2785. Recapturing that level with allow buyers to continue upside. Failure there will likely result in deeper dips. The environment is still bullish, but dips could test deeper support levels if bounces are weak.

S&P 500 Futures

Support near 2778 holds for now as buyers struggle to advance price.  The failure to recapture regions above 2785 will be a signal to sellers that they have a shot at the tests of lower support in the current formation.  The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 2785.75
  • Selling pressure intraday will likely strengthen with a bearish retest of 2772
  • Resistance sits near 2785.5 to 2791.25, with 2796.5 and 2801.75 above that.
  • Support sits between 2776.25 and 2764.75, with 2759.25 and 2746.75

s&p 500 futures june 14 trading price analysis research news image

NASDAQ Futures

Deeper dips accompany this chart as it has risen dramatically outside initial targets of upside progression.  Support struggles sit near 7224. The intraday balance of power can shift easily in the spaces of divergent momentum and limited volume – and we have both of those environments currently in this chart.  The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 7234.75
  • Selling pressure intraday will likely strengthen with a bearish retest of 7212.5
  • Resistance sits near 7242.5 to 7251.25 with 7257.5 and 7290.5 above that.
  • Support sits between 7224.5 and 7205.5, with 7187.5 and 7157 .75 below that.

nasdaq futures june 14 trading price analysis research news image

WTI Crude

Traders breach resistance and hold higher.  Price action now drifts into old areas of resistance seen near 67.2 as the press toward the monthly opening tick looms nearby.  The bullets below represent the likely shift of trading momentum at the successful or failed retests at the levels noted.

  • Buying pressure intraday will likely strengthen with a bullish retest of 67.27
  • Selling pressure intraday will strengthen with a bearish retest of 66.1
  • Resistance sits near 67.2 to 67.54, with 68.28 and 68.56 above that.
  • Support holds near 66.51 to 66.12, with 65.76 and 65.49 below that.

crude oil futures june 14 trading price targets research news image

 

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Twitter:  @AnneMarieTrades

The author trades stock market futures every day and may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

 

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