EQUITY TECHS: E-MINI S&P: (M5) Tops 50-Day EMA
May-02 07:39
- RES 4: 5837.25 High Mar 25 and a bull trigger
- RES 3: 5865.15 200-dma
- RES 2: 5773.25 High Apr 2
- RES 1: 5662.25 High Apr 28
- PRICE: 5656.00 @ 08:35 BST May 2
- SUP 1: 5355.25/5127.25 Low Apr 24 / 21 and a key support
- SUP 2: 4996.43 76.4% retracement of the Apr 7 - 10 bounce
- SUP 3: 4832.00 Low Apr 7 and the bear trigger
- SUP 4: 4760.88 1.618 proj of the Feb 19 - Mar 13 - 25 price swing
The recovery in the e-mini S&P continues, with a tenth consecutive session of higher highs - the longest winning streak of the year so far, underpinning the short-term positive momentum for stocks. The bull cycle that started on Apr 7, remains in play and has breached a number of important short-term resistances. The index has topped 5618.25, the 50-day EMA, opening layered resistance at 5773.25-5774.43.
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NZD: Testing a new intraday high
Apr-02 07:36
- The Kiwi is still leading against the Dollar in G10, NZDUSD tests a new intraday high, but a 1 pip at a time move, very gradual.
- As noted on the European Cash Govie Open, next resistance is eyed at 0.5773.
- The Yen has pared some early losses, as Yields edged lower, led by the German Bonds.
- Cable is now the early worst performer albeit by a tiny 0.11%, and continues to trade well within Yesterday's 1.2880/1.2941 (low/high) range, now at 1.2907.
STIR: SFRZ7/Z8/Z9 Fly Still Trading
Apr-02 07:34
SFRZ7/Z8/Z9 butterfly sees another ~2K trade at -1.5, small offer remains.
STIR: SFRZ7/Z8/Z9 Fly Lifted
Apr-02 07:32
SFRZ7/Z8/Z9 butterfly paper paid -1.5 on 4K, triggering action in related and surrounding spreads.
