Trial now

$8B Debt Issuance to Price, $3B Egypt 3Pt Leads


Sharp Retracement


NY Fed Weekly Economic Index (WEI)


JP Morgan Take on FOMC DOTs

EUROSTOXX50 TECHS: Key Support Remains Intact
*RES 4: 3269.66 61.8% retracement of the Feb - Mar sell-off
*RES 3: 3085.06 50.0% retracement of the Feb - Mar sell-off
*RES 2: 3023.83 High Apr 30 and key resistance
*RES 1: 2969.03 50-day EMA
*PRICE: 2908.11 @ Close May 8
*SUP 1: 2801.07 Low May 4
*SUP 2: 2791.34 Low Apr 21 and bear trigger
*SUP 3: 2701.86 Low Apr 6
*SUP 4: 2626.10 Low Apr 2 and key support
EUROSTOXX 50 attention last week had been on support at 2791.34. On Apr 30, the
index confirmed a bearish engulfing candle pattern. This is a reversal signal.
The significance of this pattern is reinforced by the fact that the pullback on
Apr 30 follows a failed attempt to clear the key 50-day EMA. For now though, the
index appears supported again. The key resistance remains 3023.83, Apr 30 high.
A break would confirm a resumption of the past 7-week uptrend.