E Mini SP 500 Index Futures

December E-mini S&P 500 Index futures are trading slightly higher early Wednesday, but the broader technical structure remains under pressure. Traders are focused on the Fed announcement, Warsh’s press conference, the 5% 10-year yield and oil near $105 as key tests for whether the early bid can hold.

September E-mini S&P 500 Index futures are attempting to rebound, but the contract remains inside Thursday’s range as traders weigh elevated long-end Treasury yields and a Federal Reserve that has not ruled out another rate hike. Bitcoin’s sharp weekly advance and gold’s technical breakout contrast with a stock market bounce that has yet to prove broad conviction.