Sept E-Mini S&P: Futures advanced for a fourth consecutive day on Thursday, closing up 11.25 points at 1315. The close comes above the 50-MA at 1310-1308 S1 Pivot Support which sustains the current Bullish bias. Maintaining dips against 1310-1308 S1 Support offers buying opportunities with Stops below 1307 suggested. Scalpers can take some profits off against this week's 1317 high at R1 Resistance while a punch through 1317 thrusts trade into the 1320-1323 R2 Resistance zone. Cover most positions against R2 as we anticipate a struggle to break through the first time up. If the Bulls can power through 1323, moves to 1330 R3 up to 1340-1342 R4 are expected to develop today and in the week ahead.

Sellers can scalp short lightly against 1317 R1 Resistance with Stops above 1318 suggested while looking to cover on a minor slide to 1310-1308 S1 Pivot Support. Trade below 1308 neutralizes the Bulls on a short term basis and calls for moderate corrective trade within the 1310 to 1300 range. A drop below 1300 may trigger steeper sell offs ahead of the long holiday weekend as traders look to flatten out.

Daily Chart:

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