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E-Mini S&P Remains Close to Thursday's Lows

EQUITIES

A bearish theme in Eurostoxx 50 futures remains in play and price is trading closer to its recent lows. Support at 4082.00, the Oct 4 low and a bear trigger, has recently been cleared. This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on the 4000.00 handle. Initial firm resistance is at 4134.70, the 20-day EMA. S&P e-minis maintain a softer tone and the contract traded lower Thursday. This week’s breach of support at 4235.50, the Oct 4 low and bear trigger, confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position too. The focus is on 4166.25, a Fibonacci projection. Initial firm resistance is at 4312.52, the 20-day EMA.


  • Japan's NIKKEI closed higher by 389.91 pts or +1.27% at 30991.69 and the TOPIX ended 30.4 pts higher or +1.37% at 2254.65.
  • Elsewhere, in China the SHANGHAI closed higher by 29.485 pts or +0.99% at 3017.784 and the HANG SENG ended 354.12 pts higher or +2.08% at 17398.73.
  • Across Europe, Germany's DAX trades higher by 69 pts or +0.47% at 14798.88, FTSE 100 higher by 23.52 pts or +0.32% at 7378.51, CAC 40 down 40.23 pts or -0.58% at 6848.47 and Euro Stoxx 50 up 2.05 pts or +0.05% at 4051.48.
  • Dow Jones mini up 108 pts or +0.33% at 32987, S&P 500 mini up 25.5 pts or +0.61% at 4182.5, NASDAQ mini up 134.5 pts or +0.95% at 14330.75.
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