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

OUTLOOK
  • In the equity space, a bullish theme in S&P E-Minis remains intact and this week’s fresh trend highs reinforce current conditions. The contract has recently cleared resistance at 4738.50, the Jul 27 high, reinforcing current positive trend conditions. Sights are on 4854.75 next, a 1.00 projection of the Nov 10 - Dec 1 - 7 price swing. Initial firm support lies at 4726.28, the 20-day EMA.
  • A bullish theme in EUROSTOXX 50 futures remains intact and recent weakness appears to be a correction. Moving average studies are in a bull-mode position, signalling a rising trend cycle. The focus is on 4636.70, the 76.4% retracement of the 2000 - 2009 downleg (cont). Support to watch is 4518.40, the 20-day EMA.

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