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Price Signal Summary - S&P E-Minis Trend Outlook Remains Bullish

OUTLOOK
  • In the equity space, a bullish theme in S&P E-Minis remains intact and the contract traded higher yesterday, before pulling back. A strong rally on Nov 14 resulted in the break of a trendline drawn from the Jul 27 high. This breach and the subsequent rally, reinforces bullish conditions and opens 4597.50, the Sep 1 high. Moving average studies are in a bull-mode position highlighting an uptrend. Initial firm support is seen at 4481.71, the 20-day EMA.
  • A bullish theme in EUROSTOXX 50 futures remains intact. MA studies are in a bull-mode position signalling a rising cycle and the potential for a continuation higher. The focus is on 4388.00, the Aug 30 high. It has been pierced, a clear break of it would open 4400.00 and 4446.00, the Aug 10 high. Initial firm support to watch is at 4298.50, the 20-day EMA. Note that the trend condition is overbought, a move lower would allow this overbought reading to unwind.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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