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

OUTLOOK
  • In the equity space, S&P E-Minis traded higher last week. This confirms a resumption of the uptrend and marks an extension of the bull cycle that started in October 2022. The focus is on 4494.20, the top of a bull channel drawn from the Oct 2022 low (cont). Initial support is at 4381.75, the Jun 13 low.
  • EUROSTOXX 50 futures traded higher Friday. Resistance at 4380.00, the May 29 high, was cleared last week, and key resistance at 4434.00, the May 19 high, has been pierced. A clear break of this hurdle would represent an important bullish development and open 4448.00, the Jan 2008 high (cont). Initial firm support to watch is at 4303.00, the Jun 7 low.

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