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OUTLOOK: Price Signal Summary - Uptrend In S&P E-Minis Remains Intact 

OUTLOOK
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  • The S&P E-Minis contract maintains a bullish tone and the latest pullback is considered corrective. Moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the uptrend would open 6145.26, a 1.236 projection of the Aug 5 - Sep 3 - 6 price swing. Initial support to watch lies at 6024.9, the 20-day EMA.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact and price is trading closer to its recent highs. The contract has recently breached the 50-day EMA. The clear break of this average strengthens a bullish theme. Sights are on 5015.00 next, the Oct 29 high. Initial support to watch lies at 4887.95, the 20-day EMA.
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  • The S&P E-Minis contract maintains a bullish tone and the latest pullback is considered corrective. Moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. A resumption of the uptrend would open 6145.26, a 1.236 projection of the Aug 5 - Sep 3 - 6 price swing. Initial support to watch lies at 6024.9, the 20-day EMA.
  • A bull cycle in the EUROSTOXX 50 futures contract remains intact and price is trading closer to its recent highs. The contract has recently breached the 50-day EMA. The clear break of this average strengthens a bullish theme. Sights are on 5015.00 next, the Oct 29 high. Initial support to watch lies at 4887.95, the 20-day EMA.