EQUITY TECHS: E-MINI S&P: (U5) Trend Needle Points North
- RES 4: 6200.00 1.500 proj of the Apr 7 - 10 - 21 price swing
- RES 3: 6172.50 High Feb 24
- RES 2: 6134.00 High Feb 26
- RES 1: 6128.75 High Jun 11 and the bull trigger
- PRICE: 6062.25 @ 14:38 BST Jun 20
- SUP 1: 5969.50/5902.27 Intraday low / 50-day EMA
- SUP 2: 5811.50 Low May 23
- SUP 3: 5645.75 Low May 7
- SUP 4: 5500.00 Low Apr 30
The trend condition in S&P E-Minis remains bullish. For now, the most recent shallow pullback is considered corrective. The contract has pierced support at 6006.73, the 20-day EMA. A clear breach of this average would suggest potential for a deeper retracement and expose the 50-day EMA, at 5902.27. Key short-term resistance and the bull trigger has been defined at 6128.75, the Jun 11 high.
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SONIA: Large Package Option
SFIZ5 95.50/96.00/96.50c fly vs 97.00/96.50ps 1x2, sold the fly at -15 in 18.5k.
EQUITY TECHS: E-MINI S&P: (M5) Bull Cycle Intact
- RES 4: 6080.75 High Feb 26
- RES 3: 6057.00 High Mar 3
- RES 2: 6000.00 Round number resistance
- RES 1: 5993.50 High May 20
- PRICE: 5912.25 @ 15:35 BST May 21
- SUP 1: 5837.25/5703.54 High Mar 25 / 50-day EMA
- SUP 2: 5455.50 Low Apr 30
- SUP 3: 5355.25 Low Apr 24
- SUP 4: 5127.25 Low Apr 21 and a key support
A bullish trend condition in S&P E-Minis remains intact and the latest pullback is considered corrective. An important resistance at 5837.25, the Mar 25 high and a bull trigger, has recently been cleared. This has strengthened the current bullish theme, and paves the way for a continuation near-term. Sights are on the 6000.00 handle next. Initial firm support to watch lies at 5703.54, the 50-day EMA.
PORTUGAL T-BILL AUCTION RESULT: 6/12-month BTs
| Type | 6-month BT | 12-month BT |
| Maturity | Nov 21, 2025 | May 22, 2026 |
| Amount | E600mln | E900mln |
| Target | E1.25-1.50bln | Shared |
| Previous | E250mln | E1.25bln |
| Avg yield | 1.947% | 1.949% |
| Previous | 3.161% | 1.974% |
| Bid-to-cover | 3.42x | 2.74x |
| Previous | 4.72x | 1.9x |
| Previous date | Sep 18, 2024 | Apr 16, 2025 |
