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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 4267.25 2.0% 10-dma envelope
  • RES 3: 4239.26 1.764 proj of the Feb 1 - Feb 16 - Mar 4 price swing
  • RES 2: 4238.25 High May 10
  • RES 1: 4185.50 High May 12
  • PRICE: 4144.00 @ 08:57 BST May 12
  • SUP 1: 4103.75 Low may 11 and key support
  • SUP 2: 4093.86 2.0% 10-dma Envelope
  • SUP 3: 4058.02 50-day EMA
  • SUP 4: 4021.00 Low Apr 5

S&P E-minis continue to edge off resistance and have traded weaker across the week. Two support levels have given way, with the 4135.30 bull channel base drawn off the Mar 4 low and 4110.50, the Apr 20 low failing to support prices on Monday/Tuesday. This signals the potential for a deeper corrective sell-off. Price needs trade above Tuesday's 4185.50 high to ease the developing bearish threat.