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S&P E-Minis Bull Cycle Still In Play

OUTLOOK
Homepagemarkets-real-timeBulletMarketsFixed Income NewsForeign Exchange News
  • In the equity space, S&P E-Minis have traded higher this week and in the process cleared recent highs to confirm a resumption of the current bull cycle that started Dec 22. A key resistance and a bull trigger at 4180.00, the Dec 13 high, has also been pierced. A clear break of this level would confirm a resumption of a broader uptrend and open 4250.00, the Aug 26 2022 high. Initial firm support has been defined at 4007.50, the Jan 31 low.
  • The EUROSTOXX 50 futures trend needle points north. The contract has breached resistance at 4206.00, the Jan 18 high. The clear break of this level confirms a resumption of the current uptrend and paves the way for gains towards 4269.50, 2.236 projection of the Sep 29 - Oct 4 rise from the Dec 20 low. Note that the trend remains overbought. A pullback, if seen, would represent a healthy correction. A break of 4097.00, the Jan 19 low, would signal the start of a short-term bear cycle.
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  • In the equity space, S&P E-Minis have traded higher this week and in the process cleared recent highs to confirm a resumption of the current bull cycle that started Dec 22. A key resistance and a bull trigger at 4180.00, the Dec 13 high, has also been pierced. A clear break of this level would confirm a resumption of a broader uptrend and open 4250.00, the Aug 26 2022 high. Initial firm support has been defined at 4007.50, the Jan 31 low.
  • The EUROSTOXX 50 futures trend needle points north. The contract has breached resistance at 4206.00, the Jan 18 high. The clear break of this level confirms a resumption of the current uptrend and paves the way for gains towards 4269.50, 2.236 projection of the Sep 29 - Oct 4 rise from the Dec 20 low. Note that the trend remains overbought. A pullback, if seen, would represent a healthy correction. A break of 4097.00, the Jan 19 low, would signal the start of a short-term bear cycle.