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EQUITIES: Bearish Equity Threat Remains Present

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

A bear threat in the S&P E-Minis contract remains present and Friday’s move lower highlights the end of the recent Dec 20 - 26 corrective bounce. An extension lower would expose 5866.00, the Dec 20 low and a key short-term support. A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the recent move down highlights a corrective phase. Despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00.

  • Japan's NIKKEI closed lower by 386.62 pts or -0.96% at 39894.54 and the TOPIX ended 16.76 pts lower or -0.6% at 2784.92.
  • Elsewhere, in China the SHANGHAI closed higher by 7.184 pts or +0.21% at 3407.326 and the HANG SENG ended 49.04 pts lower or -0.24% at 20041.42.
  • Across Europe, Germany's DAX trades lower by 53.28 pts or -0.27% at 19929.94, FTSE 100 lower by 37.9 pts or -0.47% at 8111.62, CAC 40 down 17.37 pts or -0.24% at 7337.98 and Euro Stoxx 50 down 13.31 pts or -0.27% at 4885.34.
  • Dow Jones mini down 100 pts or -0.23% at 43239, S&P 500 mini down 15 pts or -0.25% at 6012, NASDAQ mini down 59.5 pts or -0.27% at 21639.75.
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A bear threat in the S&P E-Minis contract remains present and Friday’s move lower highlights the end of the recent Dec 20 - 26 corrective bounce. An extension lower would expose 5866.00, the Dec 20 low and a key short-term support. A bull cycle in the Eurostoxx 50 futures contract remains intact, however, the recent move down highlights a corrective phase. Despite the latest bounce, a short-term bear threat remains present - for now. Key short-term support has been defined at 4829.00.

  • Japan's NIKKEI closed lower by 386.62 pts or -0.96% at 39894.54 and the TOPIX ended 16.76 pts lower or -0.6% at 2784.92.
  • Elsewhere, in China the SHANGHAI closed higher by 7.184 pts or +0.21% at 3407.326 and the HANG SENG ended 49.04 pts lower or -0.24% at 20041.42.
  • Across Europe, Germany's DAX trades lower by 53.28 pts or -0.27% at 19929.94, FTSE 100 lower by 37.9 pts or -0.47% at 8111.62, CAC 40 down 17.37 pts or -0.24% at 7337.98 and Euro Stoxx 50 down 13.31 pts or -0.27% at 4885.34.
  • Dow Jones mini down 100 pts or -0.23% at 43239, S&P 500 mini down 15 pts or -0.25% at 6012, NASDAQ mini down 59.5 pts or -0.27% at 21639.75.