SP 500 E-mini Futures 5th September 2022

 

S&P 500 

We've seen a retest of the break at 4287 and rejection.

My view is that the trend is heading down in the 4th Quarter to 2770.

2770 will support price in 2022, however, I think there will be 1 more dip in early 2023 to new lows (levels to be defined at the close of 31/12/2022)

However, in the Short-term, my expectation is the the September lows around 3752 will do it's best to hold support for a number of weeks.

The trend guide is the 50% level in September 3965 (might push up to 4002 but fail)