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

OUTLOOK
  • In the equity space, S&P E-Minis are trading lower this week but - for now - price remains above the Jan 5 low. Key resistance and the bull trigger is unchanged at 4841.50, the Dec 28 high. A break of this level would resume the uptrend and open 4854.75, the 1.00 projection of Nov 10 - Dec 1 - 7 price swing. Support at the 20-day EMA of 4773.33 has been pierced. A clear break of this average would strengthen a short-term bearish threat and open the 50-day EMA, at 4687.54.
  • EUROSTOXX 50 futures have this week breached support at the Jan 5 low of 4444.0. The primary trend direction is up and the recent move lower is considered corrective. However, the break below 4444.00 and 4450.70, the 50-day EMA, suggests scope for an extension of the current bear cycle. This has opened 4370.00, the Nov 28 low. Initial resistance is 4536.00, the Jan 11 high. A break would highlight a potential reversal.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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