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Price Signal Summary - S&P E-Minis Trades Through The 50-day EMA

OUTLOOK
  • In the equity space, S&P E-Minis traded lower Wednesday and a key short-term resistance has been defined at 4035.25, the Jan 17 high. Attention is on support at 3931.73, the 50-day EMA. It has been pierced, a clear break would highlight a potential bearish reversal and expose support at 3891.50, the Jan 10 low. On the upside, the contract needs to clear 4035.25 to cancel any developing bearish threat.
  • EUROSTOXX 50 futures bullish conditions remain intact. Futures have recently cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The break marks a key short-term positive development and opens 4215.00 next, the 2.00 projection of the Sep 29 - Oct 4 rise from the Dec 20 low. Note that the trend condition is overbought. Price is lower today, a deeper pullback would present a concern for bulls and highlight a possible top. Initial firm support to watch is 4031.30m, 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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