By Licia Leslie
August 3, 2025
Hi Shoppers,
On July 27th, I wrote that the MACD indicator was showing bearish divergence on the S&P 500 Emini Futures chart.
Well it never did turn bullish and we have sold off $161.
I think the futures need to maintain a close above $6259 or else they will trade down to $6166.50:
That level is our previous high (old resistance = new support) and lines up really well with the 50 day moving average.
This could become a price target if we continue to sell off.
Let’s see what Monday brings.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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