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

OUTLOOK
  • In the equity space, S&P E-Minis trend conditions remain bearish. Last week’s fresh trend lows strengthens bearish conditions and note that a key support at 3657.00, the Jun 17 low and an important medium-term bear trigger, has been pierced. The break would confirm a resumption of the broader downtrend. The focus is on 3558.97, 1.382 projection of the Aug 16 - Sep 7 - 13 price swing.
  • EUROSTOXX 50 futures remain vulnerable following last week’s continuation lower and today’s bearish start to the week. Key short-term support at 3341.00, the Jul 5 low, has been breached. The focus is on 3229.00 next, the Nov 9 2020 low (cont)

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