E-mini S&P 500 Index (ES) Futures Technical Analysis – Major Fibonacci Support at 4416.00 Needs to Hold

E-mini S&P 500 Index (ES) Futures Technical Analysis – Major Fibonacci Support at 4416.00 Needs to Hold

December E-mini S&P 500 Index futures are trading lower late in the session on Friday, pressured by weakness in major technology shares. Uncertainty is a theme too and when there’s uncertainty investors tend to sell until they get some clarity or prices hit a value area. The big worries for investors at this time are higher corporate taxes and an upcoming Federal Reserve meeting.

At 18:32 GMT, December E-mini S&P 500 Index futures are at 4420.50, down 43.75 or -0.98%.