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Price Signal Summary - EUROSTOXX50 Remain Above Support

  • In the equity space, S&P E-Minis traded higher Monday. The recent move down is considered corrective and the uptrend that started on Oct 13 is intact. However, attention is on support at the 50-day EMA, which intersects at 3953.99. A clear break of this EMA would threaten bullish conditions and suggest potential for a deeper reversal. The bull trigger, to resume recent bullish activity, is at 4142.50.
  • EUROSTOXX 50 futures trend conditions are unchanged and remain bullish - the latest pullback is still considered corrective. Recent high prints mark an extension of the uptrend that started in early October. The focus is on 4049.50, Feb 23 high (cont). First support to watch is 3903.30, the 20-day EMA. A break would signal scope for a deeper pullback.

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