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TECHS: E-MINIs Trendline Support Holds

EQUITIES

S&P fut (Z0) rebounded off yesterday's low.

  • It is worth monitoring the low, at 3431.50, as it represents an important short-term pivot level.
  • The recovery yesterday means that a trendline support drawn off the Sep 25 low remains intact. The trendline intersects at 3442.28 today
  • A breach of yesterday's low would highlight a trendline break and signal scope for an extension of this week's pullback
  • This would open 3400.00 and potentially below.
  • Key resistance is at 3541.00, Monday's high.

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