TECHS: Looking at the equity space, S&P....>

EQUITIES: TECHS: Looking at the equity space, S&P futures (M0) stalled at the

day high yesterday of 2965.00:

- For now, the pullback most likely represents a correction.

- Attention is on support at the 2813.27/2788.08 zone. This is the area

highlighted by the 50- and 20-day exp. moving averages.

- A break of this zone is required to highlight a more significant bearish risk

that would expose the key support at 2717.25, Apr 21 low.

- The bull trigger is yesterday's 2965.00 high. A break would again open

3000.00, confirming a resumption of the uptrend.

- Further out, this would also open 3108.95, 61.8% retracement of the Feb - Mar

decline.