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OUTLOOK: Price Signal Summary - S&P E-Minis Bull Cycle Extends

OUTLOOK
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  • In the equity space, a bull cycle in S&P E-Minis remains intact and Monday’s gains reinforce the current trend condition. The move higher confirms a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend Sights are on 5961.00, the 1.00 projection of the Sep 6 - 17 - 18. Initial support to watch is 5782.19, the 20-day EMA. 
  • EUROSTOXX 50 futures have traded to a fresh short-term cycle high this week. Key near-term support to watch is 4943.25, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement. Recently, the contract breached resistance at 5024.00, the Sep 3 high. This confirmed a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. Key resistance and bull trigger is unchanged 5106.00, the Sep 30 high. A break resumes the uptrend.
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  • In the equity space, a bull cycle in S&P E-Minis remains intact and Monday’s gains reinforce the current trend condition. The move higher confirms a resumption of the primary uptrend and maintains the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend Sights are on 5961.00, the 1.00 projection of the Sep 6 - 17 - 18. Initial support to watch is 5782.19, the 20-day EMA. 
  • EUROSTOXX 50 futures have traded to a fresh short-term cycle high this week. Key near-term support to watch is 4943.25, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement. Recently, the contract breached resistance at 5024.00, the Sep 3 high. This confirmed a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. Key resistance and bull trigger is unchanged 5106.00, the Sep 30 high. A break resumes the uptrend.