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Price Signal Summary - S&P E-Minis Pullback Considered Corrective

OUTLOOK
  • In the equity space, S&P E-Minis have pulled back from last week’s high. The move lower is considered corrective - for now. Attention is on support at the 20-day EMA, which intersects at 3973.29. A break of this EMA would suggest potential for a deeper near-term retracement. The bull trigger, to resume recent bullish activity, is at 4110.00, the Dec 1 high.
  • EUROSTOXX 50 futures trend conditions remain bullish and the latest pullback is considered corrective. Last week’s move higher resumed the uptrend that started in early October and confirms an extension of the price sequence of higher highs and higher lows. The focus is on 4049.50 next, the Feb 23 high (cont). Initial firm support is at 3921.00, the Nov 29 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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