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Price Signal Summary - S&P E-Minis Trend Pullback Considered Corrective

OUTLOOK
  • In the equity space, S&P E-Minis traded lower Tuesday and the contract breached the 20-day EMA. The move down appears to be a correction. Trend conditions remain bullish with moving average studies still in a bull-mode set-up. The focus is on 4206.25, the May high and bull trigger. A break would confirm a resumption of the uptrend and open 4223.00, the Feb 14 high. Initial support to watch is 4098.34, the 50-day EMA.
  • A key short-term support in EUROSTOXX 50 futures at 4285.90 has been breached - the 20-day EMA. The recent move down is considered corrective for now. A continuation lower would signal scope for a deeper retracement towards 4216.60, the 50-day EMA. On the upside, a break of 4363.00, the Apr 21 high and bull trigger, would confirm a resumption of the uptrend.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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