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Equity Futures Partially Retrace Some of Tuesday's Gains

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The Eurostoxx 50 futures outlook remains bearish, however, the strong recovery from Monday’s low of 4057.00 has resulted in a break of both the 20- and 50-day EMAs. A continuation higher would signal scope for 4184.50, a Fibonacci retracement. Key resistance and the bull trigger is at 4268.00, the Mar 6 high. On the downside, a reversal lower and a breach of 3914.00 would resume the recent downtrend. S&P E-Minis have continued to climb as the contract extends the recovery from 3839.25, Mar 13 low. Key short-term resistance to watch is the 50-day EMA at 4025.43. The average was breached yesterday and a clear break would strengthen a short-term bullish theme and signal scope for a climb towards 4119.50, the Mar 6 high. A failure to hold on to recent gains would refocus attention on key support at 3839.25, the Mar 13 low.


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The Eurostoxx 50 futures outlook remains bearish, however, the strong recovery from Monday’s low of 4057.00 has resulted in a break of both the 20- and 50-day EMAs. A continuation higher would signal scope for 4184.50, a Fibonacci retracement. Key resistance and the bull trigger is at 4268.00, the Mar 6 high. On the downside, a reversal lower and a breach of 3914.00 would resume the recent downtrend. S&P E-Minis have continued to climb as the contract extends the recovery from 3839.25, Mar 13 low. Key short-term resistance to watch is the 50-day EMA at 4025.43. The average was breached yesterday and a clear break would strengthen a short-term bullish theme and signal scope for a climb towards 4119.50, the Mar 6 high. A failure to hold on to recent gains would refocus attention on key support at 3839.25, the Mar 13 low.


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