S&P 500 Index E-Mini Floats Higher, Watch This Resistance Area
This morning, the S&P 500 Index e-mini futures (ES-U3) are in float mode rallying higher by more than $8.00 since the start of the trading session. Short term ES traders should watch for intra-day resistance around the $1650.92 level. The markets are now entering the light volume part of the trading day (lunch hour) so the pullbacks in this equity could be limited. Traders will need to focus on the chart pattern over the next several hours to find the next major intra-day move.