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

OUTLOOK
  • In the equity space, a bull theme in {US} S&P E-Minis remains intact and the recent pullback appears to be a correction. The move lower is allowing an overbought trend condition to unwind. Initial key support lies at the 20-day EMA, at 4360.26. A break of this average would strengthen a short-term bearish theme and signal scope for a deeper pullback. On the upside, the bull trigger is 4493.75, the Jun 16 high. A break would open 4506.23, the top of a bull channel drawn from the Oct 2022 low (cont).
  • The EUROSTOXX 50 futures uptrend remains intact, however, a bearish cycle since Jun 16 has resulted in a correction. The contract has breached support at 4301.00, the Jun 8 low. This level represented a key short-term support and the clear break signals scope for a deeper retracement, exposing 4241.00, the May 31 low and an important medium-term support point. Key resistance and the bull trigger has been defined at 4438.00, the Jun 16 high.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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