Emini S&P At Longer Term Critical Support Jul 27, 2015

By Lawrence

Mid-day update: Why 2056 on Emini S&P Matters? You need to look at the bigger picture to know. Here is the bird’s eye view.

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Emini S&P is fighting to hold the first quarter close. It is also, interestingly, where the 200 days simple moving average (SMA) is. Based on pure STOPD projection, if Emini S&P fails to hold this zone again, a drop to first quarter low will trigger waterfall effect down to previous year midpoint.

Close up view below is telling us the original down channel is in play again with 2030 and below in play as long as Emini cannot close above the lower parking zone (2075-2085) on daily basis.

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