S&P 500 E-Mini Signals Small Top; Risk Lower Into G20

A selloff Tuesday through notable 2935.75 support for a small topping pattern, to reinforce negative pressures from last Fridays spike and notable intraday setback from a new all-time high (2969.25), to keep the bias for a correction lower into Wednesday.

The latter June surge above 2943.25 set an intermediate-term bull trend.

For Today:

We see a downside bias for 2915.25; break here aims for 2910.25 and 2903.25.

But above 2942.5 opens risk up to 2958.25 and maybe towards 2969.25.

Intermediate-term Outlook - Upside Risks: We see an upside risk for 2967.75.

Higher targets would be 3000.0 and 3033.75.

What Changes This? Below 2871.5 shifts the intermediate-term outlook back to neutral; through 2808.0 is needed for an intermediate-term bear theme.

4 Hour S&P 500 E-Mini Future Chart