CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

E-MINI S&P (M3): Fresh Trend Lows

EQUITY TECHS
  • RES 4: 4244.00 High Feb 2 and key resistance
  • RES 3: 4200.00 Round number resistance
  • RES 2: 4119.50 High Mar 6
  • RES 1: 3960.75/4045.27 Low Feb 2 / 50-day EMA
  • PRICE: 3873.00 @ 13:12 GMT Mar 13
  • SUP 1: 3839.25 Intraday low
  • SUP 2: 3822.00 Low Dec 22 and a key support
  • SUP 3: 3778.00 Low Nov 3
  • SUP 4: 3724.86 76.4% retracement of the Oct 13 - Feb 2 bull cycle

The short-term condition in S&P E-Minis remains bearish and today’s move lower reinforces this theme. Price last week cleared key short-term support at 3960.75, the Mar 2 low to confirm a resumption of the bear cycle that has been in place since the Feb 2 reversal. The move lower signals scope for an extension towards 3822.00 next, the Dec 22 low. Initial firm resistance is seen at 4045.27, the 50-day EMA.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.