Monday, November 17th, 2025
The ES1 Index (Generic 1st Month S&P 500 E-mini) lost 7bps during Friday’s session, closing at 6755. The session low ticked down 1.32% from the previous close, slicing through the lower Bollinger band. This low was hit at the start of the cash session. The index held and essentially rallied for the balance of the day, showing resilience and demand for cash equities. Back on Nov 10 I wrote, “the ~5% dip seems to have run its course. I would be short below 6730. Above that level I would remain flat and ready to take on long exposure heading into December. I fully expect a run to 7k before year end.” There has obviously been some price volatility, but the index seems poised to push higher into dec 31.
Trade Support:
6752: 50dma
6540: Oct 10 low
Trade Resistance:
6825: 20dma
6900: Nov 12 High
7050: Measure Move from Consolidation
