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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, S&P E-Minis continues to trade below its recent highs. Short-term weakness is considered corrective and the uptrend remains intact. Price has recently traded through support at the 20-day EMA, at 5854.44, but is - for now - trading above this average. A clear bearish break of the EMA would open 5753.57, the 50-day EMA. A stronger resumption of gains would refocus attention on 5961.00, the 1.00 projection of the Sep 6 - 17 - 18 price swing. 
  • EUROSTOXX 50 futures are in consolidation mode and continue to trade closer to their recent lows. For now, a bear threat is present. The contract traded sharply lower on Oct 15 and pierced the 50-day EMA, at 4948.02. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, 38.2% of the Aug 5 - Sep 30 bull cycle. Key resistance and the bull trigger is 5106.00, the Sep 30 high.
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  • In the equity space, S&P E-Minis continues to trade below its recent highs. Short-term weakness is considered corrective and the uptrend remains intact. Price has recently traded through support at the 20-day EMA, at 5854.44, but is - for now - trading above this average. A clear bearish break of the EMA would open 5753.57, the 50-day EMA. A stronger resumption of gains would refocus attention on 5961.00, the 1.00 projection of the Sep 6 - 17 - 18 price swing. 
  • EUROSTOXX 50 futures are in consolidation mode and continue to trade closer to their recent lows. For now, a bear threat is present. The contract traded sharply lower on Oct 15 and pierced the 50-day EMA, at 4948.02. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, 38.2% of the Aug 5 - Sep 30 bull cycle. Key resistance and the bull trigger is 5106.00, the Sep 30 high.