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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 last week’s gains reinforce this condition. Price has traded to fresh all-time highs, once again, confirming a resumption of the primary uptrend. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support to watch is 5768.92, the 20-day EMA. It has been pierced. Key support lies at 5693.38 the 50-day EMA.
  • EUROSTOXX 50 futures are holding on to their most recent gains. Key short-term support to watch is 4938.44, 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 last week’s gains reinforce this condition. Price has traded to fresh all-time highs, once again, confirming a resumption of the primary uptrend. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support to watch is 5768.92, the 20-day EMA. It has been pierced. Key support lies at 5693.38 the 50-day EMA.
  • EUROSTOXX 50 futures are holding on to their most recent gains. Key short-term support to watch is 4938.44, 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.