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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 move higher confirms once again a resumption of the uptrend that started Oct 27. The contract has also 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 4736.37, 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. Furthermore, recent gains confirmed, once again, a resumption of the uptrend and this has maintained the bullish price sequence of higher highs and higher lows. The focus is on 4636.70, a L/T Fibonacci retracement. Support to watch is 4520.90, the 20-day EMA.
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