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Bearish Trend Resumes *RES 4:....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Bearish Trend Resumes 
*RES 4: 3540.64 High June 15
*RES 3: 3536.87 High July 31
*RES 2: 3505.11 High August 2  
*RES 1: 3503.93 200-DMA 
*PREVIOUS CLOSE: 3469.21
*SUP 1: 3463.40 55-DMA 
*SUP 2: 3413.95 Low July 20 
*SUP 3: 3418.06 Low July 12 
*SUP 4: 3345.09 Low July 2 
Some serious chart damage was done yesterday with prices slicing through the
200-DMA and the 21-DMA and leaving yet another lower high in place. Bulls will
now need to recover the 200-DMA in order to arrest the selling pressure and
regain upward momentum. On the downside, a bearish reversal would be confirmed
by a close below the 55-DMA at 3463.40, which would shift the focus to the July
20 lows.

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