S&P 500 future: Upside parallels are still intact - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, the important technical thresholds at 2558-2562 for S&P 500 future were at last broken and upside parallels are still intact on the daily chart, paving the way for a stronger rally in the next days.

Key Quotes

“The increase in the weekly volatility and the buy signals on the weekly indicators also support this bullish view.”  

“We expect the contract to target 2581 (daily Bollinger upper band) last obstacle ahead the resistances at 2590-2600 (monthly Bollinger upper band).  The supports are located at 2558-2562, at 2540-2542, at 2506-2511 and at 2457-2470.”