E-Minis A Touch Lower Ahead Of Cash Open

E-minis look to gyrations in Tsy yields in recent trade, ticking higher before falling to fresh session lows,

• The 3 major contracts run 0.3-0.5% weaker on the day, with the NASDAQ 100 softening the most and the DJIA weakening the least.
• A negative lead from European equities applied some weight in early London trade, with a bid in crude oil doing little, outside of limiting losses.
• Apple’s latest event provides the focal point for the space today, with the unveiling of several new iPhone models expected.
• Elsewhere, positive litigation developments surrounding Nvidia and Adeia may have some impact.
• Technically, the S&P 500 e-mini contract traded higher Monday. For now, gains are considered corrective and a bear cycle remains in play. Key resistance has been defined at 4,597.50, the Sep 1 high. A break is required to reinstate the recent bullish theme. A resumption of weakness would signal scope for a move towards the key support and bear trigger at 4,397.75, the Aug 18 low. Clearance of this support would highlight a short-term reversal.