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Price Signal Summary - EUROSTOXX50 Trend Remains Up, However, Trend Is Overbought

OUTLOOK
  • In the equity space, S&P E-Minis are trading lower today - the pullback is considered corrective, for now. Price traded higher Monday and breached resistance at 4035.25, the Jan 17 high. The break cancels a recent bearish threat and resumes short-term bullish conditions. The focus is on 4090.75 - last seen in mid-December. Key short-term support is 3901.75, the Jan 19 low. A break would reinstate a bearish threat.
  • EUROSTOXX 50 futures remain above support at 4097.00, the Jan 19 low. The trend outlook is bullish, however, the cycle is overbought and this continues to warn of the potential for a short-term corrective pullback. A move lower would allow the overbought reading to unwind and open 4067.20, the 20-day EMA and a key near-term support. Key resistance and the bull trigger is at 4206.00, the Jan 18 high. A break would resume the uptrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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