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EQUITIES

Stocks Surge For Second Session

CHILE

Annual Inflation Continues Surge to 6.7%

SHORT-STERLING OPTIONS

SONIA downside

OUTLOOK

Unit Labor Costs, Trade Balance, Tsy 3Y Note Auction

EQUITIES

Upside continuation

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  • RES 4: 4800.00 Round number resistance
  • RES 1: 4783.40 1.764 proj of Jul 19 - Aug 16 - 19 price swing
  • RES 2: 4740.50/46.68 High Nov 22 / 1.618 of Jul 19-Aug 16-19 swing
  • RES 1: 4717.00 Intraday high
  • PRICE: 4637.25 @ 07:03 GMT Nov 26
  • SUP 1: 4649.00/4625.25 Low Nov 23 / Low Nov 10
  • SUP 2: 4562.53/4543.75 50-day EMA / Low Oct 27
  • SUP 3: 4472.00 High Sep 27
  • SUP 4: 4317.25/4260.00 Low Oct 12 / Low Oct 1 and the bear trigger

S&P E-minis is under pressure once again. The sell-off highlights the short-term importance of Tuesday's price action. The candle pattern on this day is a bearish shooting star formation and highlights the risk of a short-term top and scope for a deeper corrective pullback. Watch support at 4625.25 level, Nov 10 low. A break would open 4562.53, the 50-day EMA. Key resistance is at 4740.50.