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

OUTLOOK
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  • In the equity space, the uptrend in S&P E-Minis remains intact and the pullback last Thursday appears to have been a correction. The contract also traded to a fresh cycle high that day, reinforcing a bullish theme. Recent gains have also resulted in a break of 5333.50, Apr 1 high. This confirms a resumption of the primary uptrend and opens 5372.73, a 1.764 projection of the Apr 19 - 29 - May 2 price swing. Initial support is 5259.02, the 20-day EMA.
  • The trend condition in EUROSTOXX 50 futures remains bullish and the recent pullback appears to be a correction. The contract has recently cleared 5079.00, the Apr 2 high, to confirm a resumption of the uptrend. This opens 5127.70 next, the 1.382 projection of the Jan 17 - Feb 12 - 13 price swing. Support to watch 4959.80, the 50-day EMA.
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  • In the equity space, the uptrend in S&P E-Minis remains intact and the pullback last Thursday appears to have been a correction. The contract also traded to a fresh cycle high that day, reinforcing a bullish theme. Recent gains have also resulted in a break of 5333.50, Apr 1 high. This confirms a resumption of the primary uptrend and opens 5372.73, a 1.764 projection of the Apr 19 - 29 - May 2 price swing. Initial support is 5259.02, the 20-day EMA.
  • The trend condition in EUROSTOXX 50 futures remains bullish and the recent pullback appears to be a correction. The contract has recently cleared 5079.00, the Apr 2 high, to confirm a resumption of the uptrend. This opens 5127.70 next, the 1.382 projection of the Jan 17 - Feb 12 - 13 price swing. Support to watch 4959.80, the 50-day EMA.