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

OUTLOOK
  • In the equity space, the S&P E-Minis trend conditions remain bearish and short-term signals suggest scope for an extension lower near-term. The contract is trading below the 50-day EMA, at 4025.09 and sights are set on 3901.75, the Jan 19 low and 3887.62, the 76.4% retracement of the Dec 22 - Feb 2 bull cycle. On the upside, resistance to watch is 4054.80, the 20-day EMA. Note that a clear break of the 50- and 20-day EMAs would signal a possible reversal.
  • EUROSTOXX 50 futures traded higher Monday and price remains above Friday’s low of 4175.00. Key support to watch is 4174.50, the base of a bull channel drawn from the Oct 13 low. While channel support holds, the broader uptrend remains intact and a continuation higher near-term would expose the bull trigger at 4323.00, Feb 16 high. On the downside, a breach of the channel base would alter the picture.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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