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Bear Condition in Equities Remains Intact

EQUITIES
The S&P E-Minis trend condition trend condition remains bearish, however, a short-term corrective cycle has unfolded following the recovery from last Wednesday's low. The EUROSTOXX 50 futures trend direction remains down, however, a corrective cycle has unfolded and the contract is holding on to its recent gains and has traded higher today. Attention is on resistance at 3607.40, the 50-day EMA.
  • Japan's NIKKEI 225 closed up 327.36 pts or +1.16% at 28542.11 and the TOPIX ended 14.69 pts higher or +0.75% at 1980.22.
  • Across Europe, the German DAX sits up 205.14 pts or +1.57% at 13294.96, FTSE 100 up 84.76 pts or +1.15% at 7435.76, CAC 40 up 79.71 pts or +1.28% at 6292.04 and Euro Stoxx 50 up 49.2 pts or +1.38% at 3619.24.
  • Dow Jones mini up 164 pts or +0.51% at 32328, S&P 500 mini up 26 pts or +0.64% at 4093.75, NASDAQ mini up 91 pts or +0.72% at 12685.75.
  • Chinese markets were closed for a market holiday.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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