From TradingView · · 1m 30s
S&P 500 E-mini Futures Setup for Wednesday
Short S&P 500 E-mini futures from 7,700-7,705 zone targeting 7,643.50 one-month low
In brief
Short S&P 500 E-mini futures from 7,700-7,705 zone targeting 7,643.50 one-month low Short entry at 7,700-7,705 zone with stop at 7,727 for 1.5:1 risk-reward to 7,643.50 one-month low Originally reported by TradingView.
S&P 500 E-mini Settlement
S&P 500 E-mini futures closed Tuesday at 7,656.00 after a narrow session between 7,701.00 and 7,643.50
One-Month Low Confirmed
Tuesday's session low of 7,643.50 marks the first one-month low for the S&P 500 E-mini futures
Rate Impact Dominant
Benchmark 10-year Treasury yields exceeded 5 percent for the first time since 2007 while crude oil rose 4 percent
Gamma Flip Level
The modeled gamma-flip level at 7,703.35 sits 2.35 points above Tuesday's high of 7,701.00
Stochastic Oscillator
The 14-day stochastic percent K reads 12.51 at a one-month low, signaling potential relief rallies
Resistance Levels
Key resistance includes 7,747.67 (Pivot R3) and 7,727 (stop level) with 7,703.35 as critical gamma flip threshold
Support Levels
Critical support at 7,643.50 (one-month low) with 7,626.75 holding the 100-day average
Short Setup Strategy
Short entry from 7,700-7,705 zone targeting 7,643.50 one-month low with stop at 7,727
Rate Decision Timing
Wednesday's direction hinges on 02:00 PM ET rate decision and 08:30 AM ET retail sales data
Volatility Expectations
At-the-money implied volatility expects 119 basis points of movement, about 90 points on the cash index
The bottom line
Short entry at 7,700-7,705 zone with stop at 7,727 for 1.5:1 risk-reward to 7,643.50 one-month low
