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Price Signal Summary - S&P E-Minis Trend Needle Points North

OUTLOOK
  • In the equity space, the current trend condition in S&P E-Minis remains bullish. Price has recently breached 4119.50, Mar 6 high, reinforcing a positive theme. The move higher has also resulted in a break of 4148.48, 76.4% of the Feb 2 - Mar 13 downleg. This signals scope for an extension to 4205.50, the Feb 16 high ahead of 4244.00, the Feb 2 high and a key medium-term resistance. Initial support lies at 4091.72, the 20-day EMA.
  • EUROSTOXX 50 futures remain firm and price is trading at this week’s highs. The continued appreciation strengthens the bullish significance of the recent break of 4268.00, the Mar 6 high and a key hurdle for bulls. Sights are on 4381.50, the Jan 5 2022 high (cont). Moving average studies are in a bull-mode set-up, highlighting a broader uptrend. Initial firm support lies at 4209.70, the 20-day EMA.
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