MNI BRIEF: Fed Banks Unanimous On Steady Discount Rate-Minutes

MNI BRIEF: Powell - Immigration Has Neutral Inflation Impact Over Long Run

MNI China Daily Summary: Tuesday, July 9

MNI BRIEF: Mexico Inflation 4.98% In June, Above Consensus

CORRECTED-MNI: China H2 Steel Outlook Subdued

MNI BOK WATCH: Slowing Inflation Puts Q4 Cut In Sight

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: 12/14-Year Bund Auction on Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction On Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

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

OUTLOOK
  • S&P E-Minis have maintained a softer tone and the contract traded lower Thursday. This week’s breach of support at 4235.50, the Oct 4 low and bear trigger, confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position too. The focus is on 4166.25, 1.50 proj of the Jul 27 - Aug 18 - Sep 1 price swing. Initial firm resistance is at 4312.52, the 20-day EMA. Note too that this week’s move lower has resulted in a break of trendline support drawn from the Oct 13 2022 low (cont). This strengthens a medium-term bearish argument.
  • A bearish theme in EUROSTOXX 50 futures remains in play and price is trading closer to its recent lows. Support at 4082.00, the Oct 4 low and a bear trigger, has recently been cleared. This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on the 4000.00 handle. Initial firm resistance is at 4134.70, the 20-day EMA.
Homepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.