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Price Signal Summary - S&P E-Minis Bear Threat Remains Present

OUTLOOK
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income NewsForeign Exchange News
  • A bear cycle in the E-mini S&P contract in play. Friday’s strong sell-off reinforces this theme and suggests the recent shallow correction higher is over. Key short-term support has been defined at 4483.25, the Sep 7 low. Clearance of this level would be a bearish development and open 4397.75, the Aug 18 low and a bear trigger. For bulls, a resumption of gains would instead open 4597.50, the Sep 1 high.
  • EUROSTOXX 50 futures traded higher last Thursday but are pulling away from the recent peak. Last week’s gains threaten the recent bearish theme and signal a possible short-term reversal with a key support defined at 4210.00, the Sep 8 low. A resumption of gains would expose resistance at 4388.00, the Aug 30 high where a break would strengthen a bullish case. For bears, a break of 4210.00, resumes the recent downtrend.
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  • A bear cycle in the E-mini S&P contract in play. Friday’s strong sell-off reinforces this theme and suggests the recent shallow correction higher is over. Key short-term support has been defined at 4483.25, the Sep 7 low. Clearance of this level would be a bearish development and open 4397.75, the Aug 18 low and a bear trigger. For bulls, a resumption of gains would instead open 4597.50, the Sep 1 high.
  • EUROSTOXX 50 futures traded higher last Thursday but are pulling away from the recent peak. Last week’s gains threaten the recent bearish theme and signal a possible short-term reversal with a key support defined at 4210.00, the Sep 8 low. A resumption of gains would expose resistance at 4388.00, the Aug 30 high where a break would strengthen a bullish case. For bears, a break of 4210.00, resumes the recent downtrend.