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Price Signal Summary - S&P E-Minis Clears The 50-Day EMA

OUTLOOK
  • In the equity space, S&P E-Minis traded higher Wednesday and the contract is holding on to this week’s gains. Price has cleared resistance at the 50-day EMA and this has strengthened the short-term bullish condition. A break of 4000.00 would open 4043.00, the Dec 15 high. Key support and the bear trigger has been defined at 3788.50, the Dec 22 low.
  • EUROSTOXX 50 futures bullish conditions remain intact and the contract has traded higher once again. Futures have cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The clear break represents a key short-term positive development and opens 4175.50 next, the Feb 16 high (cont). Moving average studies are in a bull-mode condition, reinforcing the current positive trend condition. Initial support lies at 3944.00, the 20-day EMA.

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