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Price Signal Summary - S&P E-Minis Rally Exposes The Bull Trigger

OUTLOOK
  • In the equity space, S&P E-Minis traded higher Wednesday and in the process cleared recent highs to confirm a resumption of the current bull cycle. The break exposes the key resistance and bull trigger at 4180.00, the Dec 13 high. Clearance of this level would confirm resumption of a broader uptrend and open 4250.00, the Aug 26 2022 high. Initial firm support has been defined at 4007.50, the Jan 31 low.
  • The EUROSTOXX 50 futures trend needle points north. The contract has breached resistance at 4206.00, the Jan 18 high. A clear break would confirm a resumption of the current uptrend and pave the way for gains towards 4269.50, the 2.236 projection of the Sep 29 - Oct 4 rise from the Dec 20 low. Note that the trend remains overbought. A pullback, if seen, would represent a healthy correction. A break of 4097.00, the Jan 19 low, would signal the start of a short-term bear cycle.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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