• In the equity space, this week’s recovery in S&P E-Minis highlights a bullish reversal and the end of the corrective cycle between Sep 3 - 6. A continuation higher would signal scope for a test of 5669.75, the Sep 3 high. Clearance of this level would open 5721.25, the Jul 16 high and bull trigger. Initial support is at 5519.28, the 50-day EMA.
  • The latest move down in EUROSTOXX 50 futures resulted in a break of both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, 61.8% of the Aug 5 - Sep 3 bull cycle. Initial key short-term resistance has been defined at 4998.00, the Sep 3 high. First resistance is at 4865.79, the 50-day EMA. The contract has recovered from its recent lows. A clear break of the 50-day EMA is required to strengthen a bullish theme.

OUTLOOK: Price Signal Summary - S&P E-Minis Recovery Extends 

Last updated at:Sep-13 10:01By: Taso Anastasiou
  • In the equity space, this week’s recovery in S&P E-Minis highlights a bullish reversal and the end of the corrective cycle between Sep 3 - 6. A continuation higher would signal scope for a test of 5669.75, the Sep 3 high. Clearance of this level would open 5721.25, the Jul 16 high and bull trigger. Initial support is at 5519.28, the 50-day EMA.
  • The latest move down in EUROSTOXX 50 futures resulted in a break of both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, 61.8% of the Aug 5 - Sep 3 bull cycle. Initial key short-term resistance has been defined at 4998.00, the Sep 3 high. First resistance is at 4865.79, the 50-day EMA. The contract has recovered from its recent lows. A clear break of the 50-day EMA is required to strengthen a bullish theme.

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