E-Mini S&P 500 Hitting Intra-Day Resistance While Boosted By Macro Bullish Momentum

Trader • Aug 9, 2021 at 11:10 AM EDT

The E-mini S&P 500 Futures contract trades slightly lower with about 0.1%. The market hitting a resistance level from Friday which might pressure the market towards the swing lows for absorption behavior.

The E-mini S&P 500 Futures contract trades slightly lower with about 0.1%.

The market hitting a resistance level from Friday which might pressure the market towards the swing lows for absorption behavior.

The macro perspective still points to the upside regards POLR while the hourly have bullish tendencies but need to move above the mentioned VWAP close level to conclude further upside potential. Jobs openings and the Fed speech are upcoming later into the session, the consumer inflation expectations will be released.

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