S&P500 futures: Short term technical pattern remains bearish - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, the short term technical pattern remains bearish for S&P500 futures; downside parallels have emerged on the daily chart and the weekly indicators send sell signals.

Key Quotes

“Against this backdrop, a return above a resistance at 23662372 (daily parabolic) sounds unlikely and we’d better watch out a support located at 2335 (daily Bollinger lower band).”

“The break below this threshold would give an impulsive move lower towards 2300-2304 (weekly Bollinger moving average).  The resistances stand at 2366-2372, at 2381-2387, at 2400-2413 and at 2436.”