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Price Signal Summary - S&P E-Minis Downtrend Remains Intact

OUTLOOK
  • In the equity space, S&P E-Minis remains in a downtrend as a clear risk-off mood drives prices lower. Short-term gains are considered corrective. The focus is on 3778.45, the 61.8% retracement of the Oct 13 - Dec 13 uptrend. On the upside, initial firm resistance is seen at 3952.05, the 50-day EMA. A break of this EMA is required to ease bearish pressure.
  • EUROSTOXX 50 futures are in a clear bear mode position and today’s initial move lower has reinforced this theme. The break lower has confirmed a breach of the 50-day EMA - at 3799.60. The breach of this average signals scope for an extension lower near-term and has opened 3720.00 next, the Nov 10 low. On the upside, initial firm resistance is seen at the 20-day EMA - it intersects at 3896.10.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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