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S&P and NQ Break Out to Record Highs—Will They Hold Weekly Gains?

S&P and NQ Break Out to Record Highs—Will They Hold Weekly Gains?

Posted July 18, 2025 at 9:15 am

Bill Baruch
Blue Line Futures

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E-mini S&P (September) / E-mini NQ (September)

S&P, yesterday’s close: Settled at 6340.50, up 37.25

NQ, yesterday’s close: Settled at 23,251.00, up 174.50

E-mini S&P and E-mini NQ closed at fresh record highs yesterday after strong economic data provided additional tailwinds to Wednesday’s reversal off the lows. It will now be crucial for price action to hold these levels for the weekly settlement. A fresh set of Michigan Consumer data is due at 9:00 a.m. CT, and we will be closely watching those 1-year inflation expectations.

While the E-mini S&P and E-mini NQ futures are trading in a breakout, they are hanging just above the resistance created by the previous record highs at 6341.75-6343 and 23,226-23,264. These will now stand as our Pivot and point of balance, with supports created from yesterday morning’s ramp and detailed below. If the breakout is maintained, our next major three-star resistance comes in at….

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Originally Posted on July 19, 2025 – S&P and NQ Break Out to Record Highs—Will They Hold Weekly Gains?

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