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Price Signal Summary - S&P E-Minis Retracement From Tuesday's High Extends

OUTLOOK
  • In the equity space, S&P E-Minis are trading lower, extending the pullback from 3928.00, Nov 1 high. Key short-term support has been defined at 3641.50, the Oct 21 low. Initial support to watch is 3736.50, the Oct 24 low, where a break would signal scope for a continuation lower. For bulls, a reversal higher would refocus attention on 3928.00. Clearance of this level would confirm a resumption of the recent bull theme and open 3981.25, the Sep 14 high.
  • A bullish EUROSTOXX 50 futures theme remains intact despite the pullback from Tuesday’s high of 3679.00. Recent gains have resulted in a print above resistance at 3678.00, the Sep 13 high. A clear break of this level would strengthen bullish conditions and pave the way for gains above the 3700.00 level. The next key resistance is at 3810.00, the Aug 17 high. Firm support is unchanged at the 50-day EMA which intersects at 3508.50.

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