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Price Signal Summary - Bounce In S&P E-Minis Considered Corrective

OUTLOOK
  • In the equity space, S&P E-Minis trend signals are bearish and this week’s low print reinforces this condition. The contract has recovered from its recent lows. The move higher is considered corrective and attention is on 3946.36, the 50-day EMA. A clear break of this hurdle is required to suggest potential for a stronger recovery. On the downside, a reversal lower and a break of 3803.50, Dec 20 low, would confirm a resumption of the downtrend.
  • EUROSTOXX 50 futures have recovered from recent lows and the contract has traded higher today. Price has arrived at the 20-day EMA, at 3886.10 - a key short-term resistance. A clear breach of this hurdle would suggest potential for a stronger recovery and open 4043.00, the Dec 13 high and bull trigger. Gains are considered corrective - for now. A reversal lower and a break of 3753.00, the Dec 20 low, would resume the recent downtrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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