MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

LFS Employment Growth Exceeds RNS Estimates In Q2

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - Pullback In S&P E-Minis Appears To Be A Correction

OUTLOOK
  • In the equity space, S&P E-Minis are trading lower today and extending the pullback from last week’s 4208.50 high (Feb 2). The move lower is likely a correction and is allowing a recent overbought trend condition to unwind. Support to watch lies at 4007.50, the Jan 31 low. Ahead of this low is support at 4040.48, the 20-day EMA. The broader uptrend remains intact - last week’s gains confirmed a resumption of the trend that started Dec 22. A reversal higher would open 4250.00, the Aug 26 2022 high.
  • The EUROSTOXX 50 futures trend needle continues to point north. Resistance at 4206.00, the Jan 18 high, has been breached. The clear break confirms a resumption of the current uptrend and paves the way for gains towards 4269.50, a Fibonacci projection. Note that the trend remains overbought. A deeper pullback, if seen, would represent a healthy correction. A break of 4097.00, the Jan 19 low, would signal the start of a stronger short-term bear cycle.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.