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

OUTLOOK
  • A bear cycle in the E-mini S&P contract remains in play and short-term gains are considered corrective - for now. Key resistance has been defined at 4597.50, the Sep 1 high where a break is required to reinstate the recent bullish theme. For bears, a stronger sell-off would signal scope for a move towards the key support and bear trigger at 4397.75, the Aug 18 low. Clearance of this support would strengthen a bearish case.
  • A bear cycle in EUROSTOXX 50 futures remains in play and short-term gains are considered corrective. Price has recently pierced key support at 4187.00, the Aug 18 low and a bear trigger. A clear break of this level would strengthen bearish conditions and open 4177.40 next, 61.8% of the Mar 20 - Jul 31 bull leg. Key resistance has been defined at 4358.00, the Aug 30 high. Initial firm resistance is seen at 4273.90, the 20-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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