E-Mini S&P 500 Heading Higher By Positive Retails Sales; September Swing Highs As Resistance
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.
Visit our trading community to read more market insights and to learn the more in-depth analysis process with various tools such ...
more