Eurostoxx 50 futures traded higher last week as the correction from recent lows extends. Price has traded through resistance at both the 20- and 50-day EMAs. The broader trend condition is bearish, however, a clear break of the 50-day average, at 4184.10, would signal scope for a stronger bull cycle and open 4256.00, the Oct 12 high. On the downside, key support and the bear trigger lies at 4001.0, the Oct 27 low. S&P e-minis traded higher last week and the contract is holding on to its recent gains. The latest recovery still appears to be a correction, however, price has cleared the 20- and 50-day EMAs. The break of the 50-day average - a key short-term pivot level - has strengthened bullish conditions. Sights are on 4430.50, the Oct 12 high. Key support and the bear trigger has been defined at 4122.25, the Oct 27 low.

• Japan's NIKKEI closed lower by 436.66 pts or -1.34% at 32271.82 and the TOPIX ended 27.55 pts lower or -1.17% at 2332.91.
• Elsewhere, in China the SHANGHAI closed lower by 1.14 pts or -0.04% at 3057.27 and the HANG SENG ended 296.43 pts lower or -1.65% at 17670.16.
• Across Europe, Germany's DAX trades lower by 30.27 pts or -0.2% at 15104.55, FTSE 100 lower by 6.29 pts or -0.08% at 7410.83, CAC 40 down 25.03 pts or -0.36% at 6987.45 and Euro Stoxx 50 down 10.09 pts or -0.24% at 4147.89.
• Dow Jones mini down 70 pts or -0.2% at 34098, S&P 500 mini down 9.5 pts or -0.22% at 4375.5, NASDAQ mini down 26.75 pts or -0.18% at 15206.