From TradingView · · 50s
S&P 500 Analysis for Tuesday
S&P 500 futures target key resistance zones ahead of Fed decision.
In brief
S&P 500 futures target key resistance zones ahead of Fed decision. S&P 500 futures are set to test resistance zones near 7,752 before Fed meeting. Originally reported by TradingView.
S&P 500 E-mini Futures
S&P 500 E-mini futures settled at 7,714.50 on Monday, up 54.75 or 0.71 percent.
Key Market Moves
Cash index rose 0.70 percent to 7,676.77 with Nasdaq-100 up 1.09 percent.
Volatility Shift
Volatility index eased to 18.39 from 19.45 with negative dealer gamma.
Resistance Zones
Resistance levels include 7,839.83 (Pivot R3) and 7,752.08 (Pivot R1).
Primary Setup
Short the December contract from 7,738 to 7,746 beneath Pivot R1 at 7,752.08.
Risk Management
Stop at 7,760 with targets at 7,724, 7,706, and 7,688 for 1:1 to 1:3 reward.
Market Test
Tuesday's session tests whether rebounds meet sellers beneath desk pivot at 7,700.
The main idea
S&P 500 futures are set to test resistance zones near 7,752 before Fed meeting.
