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S&P 500 futures 'critical support' level sits 1.2% to 1.6% below current le
S&P 500 futures 'critical support' level sits 1.2% to 1.6% below current levels
While a technical case can be made that S&P 500 futures are ready for a turn lower, following the sharp rally off the December lows, ICAP technical analyst Brian LaRose said the most important part of a "peaking process" is break below support. And for S&P 500 futures, LaRose pegs "critical support" at the 2,856-to-2,867 zone, which is 1.2% to 1.6% below current levels. S&P 500 futures are currently down 1.6%, as a tweet from President Trump over the weekend ignited fresh trade-war tensions with China. LaRose said "ideal" support was at 2,875, while the "last line of defense" is 2,855. "Meanwhile, if the bulls can once again prevent the S&P from collapsing beneath these key levels...there is still a chance for another round of fresh highs," LaRose wrote in a note to clients.
https://finance.yahoo.com/m/2dbddada-beb9-30c4-b838-82f0ec4a3f9b/s&p-500-futures.html?.tsrc=rss
S&P 500 futures 'critical support' level sits 1.2% to 1.6% below current levels
While a technical case can be made that S&P 500 futures are ready for a turn lower, following the sharp rally off the December lows, ICAP technical analyst Brian LaRose said the most important part of a "peaking process" is break below support. And for S&P 500 futures, LaRose pegs "critical support" at the 2,856-to-2,867 zone, which is 1.2% to 1.6% below current levels. S&P 500 futures are currently down 1.6%, as a tweet from President Trump over the weekend ignited fresh trade-war tensions with China. LaRose said "ideal" support was at 2,875, while the "last line of defense" is 2,855. "Meanwhile, if the bulls can once again prevent the S&P from collapsing beneath these key levels...there is still a chance for another round of fresh highs," LaRose wrote in a note to clients.
https://finance.yahoo.com/m/2dbddada-beb9-30c4-b838-82f0ec4a3f9b/s&p-500-futures.html?.tsrc=rss
