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Price Signal Summary - S&P E-Minis Trade Through A Key Support

OUTLOOK
  • A bear cycle in the E-mini S&P contract remains in play and this week’s break lower reinforces current conditions. Thursday’s sell-off resulted in a break of support at 4397.75, the Aug 18 low. The breach reinforces bearish conditions. Sights are on 4352.50, the Jun 8 low. Further out, scope is seen for a move to 4318.00, the Jun 2 low. Initial firm resistance is 4502.22, the 50-day EMA.
  • EUROSTOXX 50 futures maintain a softer tone following this week’s move lower and today’s gains are considered corrective. Attention is on key support at 4210.00, the Sep 8 low. This level has been pierced, a clear break would confirm a resumption of the downtrend that started late July and open 4163.00, the 1.00 projection of the Aug 10 - 18 - 30 price swing. Key short-term resistance has been defined at 4359.00, the Sep 15 high. A break would be bullish. INitial resistance is at 4294.20, the 20-day EMA.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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