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

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis remains bullish and this week’s extension reinforces this theme. The break of 5257.25, Mar 8 high, confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. MA studies are in a bull-mode position reflecting positive market sentiment. Sights are on 5370.81, the top of a bull channel drawn from the Jan 17 low. Initial firm support is at 5185.88, the 20-day EMA.
  • A bullish trend condition in EUROSTOXX 50 futures remains intact and today’s earlier gains reinforce current conditions. The contract has traded above its recent high to confirm a resumption of the uptrend and this has also resulted in a break of the 5000.00 handle. Moving average studies remain in a bull-mode position, highlighting positive market sentiment. Sights are on 5074.7,1.236 projection of the Jan 17 - Feb 12 - 13 price swing. Initial firm support is at 4884.30, the 20-day EMA. A move lower is considered corrective.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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