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Price Signal Summary - S&P E-Minis Clears Resistance At The 20-Day EMA

EQUITY TECHS
  • In the equity space, S&P E-Minis traded higher Monday, extending the current bull cycle. The contract has moved through resistance at the 20-day EMA and is firmer today. This highlights a stronger short-term bullish condition and a continuation higher would expose the key resistance and bull trigger at 5333.50, the Apr 1 high. Initial resistance is 5246.18, 76.4% of the Apr 1 - 19 bear leg. Firm support lies at 5036.25, the May 2 low.
  • EUROSTOXX 50 futures continue to trade above 4762.00, the Apr 19 low. The contract recently traded through the 20-day EMA and resistance at 4990.00, the Apr 15 high. This highlights a potentially stronger reversal. An extension higher would expose the bull trigger at 5079.00, the Apr 2 high. Initial resistance is at 5006.00, the Apr 30 high. Initial support to watch is 4880.90, the 50-day EMA.
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