FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 - Corrective EUROSTOXX 50 Pullback

OUTLOOK
BulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the equity space, a bull cycle in S&P E-Minis remains intact and last week’s fresh cycle highs, reinforce this theme. Moving average studies are in a bull-mode setup and this highlights a dominant uptrend. Scope is seen for a climb towards 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. On the downside, initial support  to watch is 5709.39, the 20-day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week resulting in a clear break of 5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5. Scope is seen for a continuation of the trend with sights on 5138.24, a 0.764 projection of the Aug 5 - Sep 3 -  6 price swing. Key short-term support is seen at 4917.56, the 50-day EMA. The latest pullback appears to be a correction.
150 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, a bull cycle in S&P E-Minis remains intact and last week’s fresh cycle highs, reinforce this theme. Moving average studies are in a bull-mode setup and this highlights a dominant uptrend. Scope is seen for a climb towards 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. On the downside, initial support  to watch is 5709.39, the 20-day EMA.
  • EUROSTOXX 50 futures traded sharply higher last week resulting in a clear break of 5024.00, the Sep 3 high. This confirms a resumption of the bull leg that started Aug 5. Scope is seen for a continuation of the trend with sights on 5138.24, a 0.764 projection of the Aug 5 - Sep 3 -  6 price swing. Key short-term support is seen at 4917.56, the 50-day EMA. The latest pullback appears to be a correction.