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Price Signal Summary - S&P E-Minis Bear Cycle Remains In Play

OUTLOOK
  • A bear cycle in the E-mini S&P contract remains in play and yesterday’s break lower reinforces current conditions. The contract has breached 4483.25, the Sep 7 low. This confirms a resumption of the bear leg that started Sep 1. A continuation lower would expose 4397.75, the Aug 18 low. Initial key resistance has been defined at 4566.00, the Sep 15 high.
  • A strong sell-off in EUROSTOXX 50 futures Monday highlighted a bearish start to this week’s session. A continuation lower would threaten the recent short-term bullish theme and refocus attention on key near-term support at 4210.00, the Sep 8 low. Clearance of this level would confirm a resumption of the downtrend that started late July. Key short-term resistance has been defined at 4359.00, the Sep 15 high.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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