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Bearish Picture Remains Intact....>

EUROSTOXX50 TECHS: Bearish Picture Remains Intact
*RES 4: 3540.64 High June 15 
*RES 3: 3536.87 High July 31 
*RES 2: 3514.78 High August 7 
*RES 1: 3435.12 High August 14 
*SUP 1: 3349.14 Low August 15 
*SUP 2: 3340.85 Low June 27 
*SUP 3: 3331.53 200-WMA 
*SUP 4: 3306.66 Low February 18 
Yesterday's bounce improved the short-term outlook but bulls still need to
regain the Aug 14 high of 3435.12 to make the bigger picture more constructive.
Bears remain focused on the Aug 15 low, a break of which would likely see
downside momentum gather pace. A further break below the 200-wma would open the
way towards the March lows at 3261.86. 

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