Risk Off Prevails, E-mini S&P Narrows Gap With Key Bear Trigger

EUROSTOXX 50 futures remain soft and the contract continues to trend lower, marking an extension of the reversal on Sep 13 from 3678.00. Key short-term support at 3423.00, the Sep 5 low, has been cleared. S&P E-Minis trend conditions remain bearish following last week’s extension lower and the bearish follow through this week. The move strengthens bearish conditions and attention is on key support at 3657.00, Jun 17 low and an important medium-term bear trigger.

• Japan's NIKKEI closed lower by 397.89 pts or -1.5% at 26173.98 and the TOPIX ended 17.86 pts lower or -0.95% at 1855.15.
• Elsewhere, in China the SHANGHAI closed lower by 48.795 pts or -1.58% at 3045.067 and the HANG SENG ended 609.43 pts lower or -3.41% at 17250.88.
• Across Europe, Germany's DAX trades lower by 192.36 pts or -1.58% at 11938.86, FTSE 100 lower by 108.46 pts or -1.55% at 6874.02, CAC 40 down 72.01 pts or -1.25% at 5679.64 and Euro Stoxx 50 down 49.44 pts or -1.49% at 3277.52.
• Dow Jones mini down 170 pts or -0.58% at 29013, S&P 500 mini down 29 pts or -0.79% at 3630, NASDAQ mini down 136 pts or -1.2% at 11190.