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Price Signal Summary - S&P E-Minis Bull Cycle Remains In Play

OUTLOOK
  • In the equity space, the trend condition in S&P E-Minis remains bullish following last week’s gains and pullbacks are considered corrective. The move higher continues to highlight the fact that corrections remain shallow - a bullish signal. Support to watch is 5000.90, the 20-day EMA. A resumption of gains would open vol-band based resistance at 5137.13.
  • The bull cycle in EUROSTOXX 50 futures remains firmly intact and the contract is holding on to its recent gains. Moving average studies are in a bull-mode position too, highlighting positive market sentiment. Sights are on 4904.40 next, the 2.236 projection of the Nov 8 - 24 - 28 price swing. Initial firm support lies at 4747.70, the 20-day EMA.

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