Stocks Sink as USD Continues to Rip Higher

S&P E-Minis remain soft. Continued weakness confirms a resumption of the bear cycle that started mid-August. The break paves the way for a move towards 3741.75, the Jul 14 low. The key support at 3657.00, Jun 17 low, has also been exposed. This is an important bear trigger. EUROSTOXX 50 remain soft following the reversal last week from 3678.00, the Jun 13 high and this week’s follow through. Key short-term support at 3423.00, the Sep 5 low has been cleared, the break strengthens bearish conditions and opens 3360.00 next, the Jul 14 low.

Note Japanese markets are closed for a bank holiday.

• Elsewhere, in China the SHANGHAI closed lower by 20.541 pts or -0.66% at 3088.369 and the HANG SENG ended 214.68 pts lower or -1.18% at 17933.27.
• Across Europe, Germany's DAX trades lower by 94.56 pts or -0.75% at 12436.07, FTSE 100 lower by 61.58 pts or -0.86% at 7097.88, CAC 40 down 43.45 pts or -0.73% at 5875.24 and Euro Stoxx 50 down 31.26 pts or -0.91% at 3395.82.
• Dow Jones mini down 155 pts or -0.51% at 29989, S&P 500 mini down 22.75 pts or -0.6% at 3748.5, NASDAQ mini down 88.5 pts or -0.77% at 11475.