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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 remains in play. The contract traded lower Wednesday, confirming a resumption of the bear leg once again. This maintains the price sequence of lower lows and lower highs and signals scope for weakness towards 4194.75, the May 24 low. Pivot resistance is 4441.61, the 50-day EMA. Ahead of the 50-day average is resistance at 4381.68, the 20-day EMA.
  • EUROSTOXX 50 futures trend conditions remain bearish and short-term gains appear to be corrective. The contract has traded below 4128.00, the Sep 27 low. This confirms a resumption of the downtrend that started late July and signals scope for a move towards 4055.40, the 76.4% retracement of the Mar 20 - Jul 31 bull cycle. Initial firm resistance is at 4207.30, the 20-day EMA. A break of this average would signal a possible short-term base.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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