OUTLOOK: Price Signal Summary - EUROSTOXX50 Trend Structure Remains Bullish
Jul-18 09:51
- In the equity space, S&P E-Minis are trading higher today and this has resulted in a fresh cycle high. The climb confirms a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode position highlighting a clear dominant uptrend. Sights are on 6381.50, a 1.764 projection of the Apr 7 - 10 - 21 price swing. Key support is at the 50-day EMA, at 6092.32. Support at the 20-day EMA is at 6237.47.
- A bull cycle in EUROSTOXX 50 futures remains in play and recent weakness appears to have been a correction. Support to watch is 5281.00, the low on Jul 1 and 4. A clear break of this price point would strengthen a bearish threat. Recent gains have exposed key resistance and the bull trigger at 5486.00, the May 20 high. It has been pierced, a clear breach of it would resume the M/T bull cycle that began Apr 7 and open the 5500.00 handle.
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EQUITIES: Options size for Triple Witching Friday
Jun-18 09:49
Equity Option Expiry in Notional Term, some have increased. Gamma will provide some Volatility at and post Expiry on Friday.
US:
- SPX: $3.52T vs $3.41T Monday.
- NDX: $125.27bn vs $121.13bn.
- Amazon: $21.76bn vs $20.72bn.
- Apple: $26.27bn vs $24.99bn.
EU:
- SX5E: €331.78bn vs €325.63bn.
- SX7E: €21.17bn vs €21.19bn.
- DAX: €85.67bn vs €85.30bn.
- CAC: €4.36bn vs €4.51bn.
- UKX: £26.71bn vs £26.25bn.
- Lloyds: £3.06bn vs £3.05bn.
OUTLOOK: Price Signal Summary - Trend Needle In S&P E-Minis Points North
Jun-18 09:46
- In the equity space, the trend condition in S&P E-Minis remains bullish and the contract is holding on to the bulk of its recent gains. For now, the latest pullback is considered corrective. The contract has pierced support at 6003.83, the 20-day EMA. A clear breach of this average would expose the 50-day EMA, at 5896.83. Key short-term resistance has been defined at 6128.75, the Jun 11 high. A break would resume the uptrend.
- EUROSTOXX 50 futures are trading closer to their recent lows. The latest pullback has resulted in a breach of the 50-day EMA at 5298.64. Price has also pierced 5255.00, the May 23 low. A clear break of both support points would signal a short-term top and highlight scope for a deeper retracement. This would open 5178.00, the May 6 low and 5081.16, 38.2% of the Apr 7 - May 20 bull leg. Initial resistance to watch is 5355.88, the 20-day EMA.
PORTUGAL T-BILL AUCTION RESULT: 11-month BTs (Source: Bloomberg)
Jun-18 09:42
| Type | 11-month BT |
| Maturity | May 22, 2026 |
| Amount | E750mln |
| Target | E0.75-1.00bln |
| Previous | E900mln |
| Avg yield | 1.941% |
| Previous | 1.949% |
| Bid-to-cover | 3.22x |
| Previous | 2.74x |
| Previous date | May 21, 2025 |
