MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

OUTLOOK: Price Signal Summary - Bull Cycle In S&P E- Minis Remains In Play

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the equity space, S&P E-Minis remains firm. Last week’s recovery highlights a bullish reversal and continuation higher would signal scope for a test of 5730.50, Sep 3 high. Clearance of this level would open 5785.00, the Jul 16 high and bull trigger. On the downside, a reversal lower and a breach of 5451.25, the Sep 6 low, would reinstate a bearish theme. First support is 5583.10, the 50-day EMA.
  • The latest move down in EUROSTOXX 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, 61.8% of the Aug 5 - Sep 3 bull cycle. First resistance is at 4864.94, the 50-day EMA. Clearance of this average would strengthen a bullish condition.
152 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • In the equity space, S&P E-Minis remains firm. Last week’s recovery highlights a bullish reversal and continuation higher would signal scope for a test of 5730.50, Sep 3 high. Clearance of this level would open 5785.00, the Jul 16 high and bull trigger. On the downside, a reversal lower and a breach of 5451.25, the Sep 6 low, would reinstate a bearish theme. First support is 5583.10, the 50-day EMA.
  • The latest move down in EUROSTOXX 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, 61.8% of the Aug 5 - Sep 3 bull cycle. First resistance is at 4864.94, the 50-day EMA. Clearance of this average would strengthen a bullish condition.