S&P 500 Emini Futures showing signs of losing momentum with potential correction ahead

From Investing.com: 2024-09-30 08:20:00

The S&P 500 Emini Futures market is showing signs of losing momentum with smaller bull bars in the past 3 weeks. Bulls are hoping for support at the 20-week EMA or bull trend line to potentially form a double-bottom bull flag. Bears are looking for the market to stall and start forming bear bars around current levels.

The weekly chart of the S&P 500 Emini Futures shows the market is potentially in a sideways to up phase, with the possibility of a breakout into new all-time high territory or stall around the July high area forming bear bars in the future. Bulls aim for a strong breakout with follow-through buying, while bears look for a reversal from a double top and the formation of bear bars.



Read more at Investing.com: S&P 500 E-Mini Losing Momentum – Correction Ahead?