E-Mini S&P 500 Heading Higher By Positive Retails Sales; September Swing Highs As Resistance

Trader • Oct 15, 2021 at 10:03 AM EDT

The E-mini S&P 500 gains about 0.5% in the European trading session. The market testing swing highs for selling back from September.

The E-mini S&P 500 gains about 0.5% in the European trading session. The market testing swing highs for selling back from September while targeting the previous Quarter’s VAH close level, hence the risk for sellers are above the mentioned highs.

The US Retail Sales rose YoY by 13.9% which might support the stock indexes – MoM rose higher-than-expected by 0.7%.

Monthly still keeps its bullish momentum with gains of 3.5% while September’s outside bar may be the sign for change in the market context towards balanced, therefore traders could lean on the Quarterly extremes.

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