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Price Signal Summary - S&P E-Minis Remains Below Resistance

OUTLOOK
  • In the equity space, a bearish theme in the E-mini S&P contract remains intact and this week’s recovery appears to be a correction. Last week’s price action reinforced a bearish theme. The move lower resulted in a break of the 50-day EMA and a breach of channel support drawn from the Mar 13 low. The Jun 26 low of 4368.50, was breached last Friday and attention is on 4344.28,38.2% of the Mar 13 - Jul 27 bull cycle. Initial firm resistance is at 4452.08, the 50-day EMA.
  • A bearish theme in EUROSTOXX 50 futures remains present and the latest recovery appears to be a correction. The contract has recently breached support at 4276.00, the Aug 8 and 15 low and cleared 4220.00, the Jul 7 low. This opens 4177.40, 61.8% of the Mar 20 - Jul 31 bull leg. Initial firm resistance is 4341.10, the 50-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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