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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 signals are bearish and this week’s low prints reinforce this condition. The contract is trading above its recent lows. Short-term gains would be considered corrective with resistance at 3942.55, the 50-day EMA. A clear break of this hurdle is required to suggest potential for a stronger recovery. On the downside, a reversal lower would confirm a resumption of the downtrend. The focus is on 3778.45, 61.8% retracement of the Oct 13 - Dec 13 uptrend.
  • EUROSTOXX 50 futures remain above their recent lows. Price tested resistance at 3880.00 on Thursday, the 20-day EMA and a key short-term resistance. A clear breach of this hurdle would suggest potential for a stronger recovery. Gains are considered corrective. A reversal lower and a break of 3753.00, the Dec 20 low, would confirm a resumption of the recent downtrend.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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