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OUTLOOK: Price Signal Summary - S&P E-Minis Trend Needle Points North 

OUTLOOK
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  • In the equity space, a bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. Initial support  to watch is 5742.64, the 20-day EMA. It has been pierced. Key support lies at 5674.40 the 50-day EMA.
  • EUROSTOXX 50 futures are unchanged. The latest pullback appears to be a correction. Key short-term support to watch is 4929.62, 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 5106.00, the Sep 30 high.
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  • In the equity space, a bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a 1.00 projection of the Apr 19 - Jul 16 - Aug 5 price swing, and 5900.00 further out. Initial support  to watch is 5742.64, the 20-day EMA. It has been pierced. Key support lies at 5674.40 the 50-day EMA.
  • EUROSTOXX 50 futures are unchanged. The latest pullback appears to be a correction. Key short-term support to watch is 4929.62, 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 5106.00, the Sep 30 high.