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Price Signal Summary - S&P E-Minis Bull Cycle Extends

OUTLOOK
  • In the equity space, a bullish theme in S&P E-Minis remains intact and the contract has traded to a fresh high this week. The break higher confirms once again a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position, highlighting positive market sentiment. Sights are on 4738.50, the Jul 27 high and a key resistance. Initial support is 4602.23, the 20-day EMA.
  • A bullish theme in EUROSTOXX 50 futures remains intact and the contract traded to a fresh trend high Tuesday. This confirms once again a resumption of the uptrend and maintains a bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, signalling a rising cycle. The focus is on 4608.00, the Jun 2007 high and a key resistance. Support to watch is at 4411.50, the 20-day EMA.

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