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EQUITIES: Bear Trend in EStoxx Remains Intact

EQUITIES
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S&P E-Minis are unchanged and the contract is trading at this week’s highs. Sights are on the key resistance and bull trigger at 6053.25, the Nov 11 high. A break of this hurdle would resume the uptrend and open 6070.16, a Fibonacci projection. A bear trend in Eurostoxx 50 futures remains intact. A fresh cycle low on Nov 19 marked a resumption of the downtrend that started Sep 30. Price has traded through 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle.

  • Japan's NIKKEI closed lower by 141.03 pts or -0.37% at 38208.03 and the TOPIX ended 6.57 pts lower or -0.24% at 2680.71.
  • Elsewhere, in China the SHANGHAI closed higher by 30.758 pts or +0.93% at 3326.456 and the HANG SENG ended 56.65 pts higher or +0.29% at 19423.61.
  • Across Europe, Germany's DAX trades lower by 14.56 pts or -0.08% at 19408.48, FTSE 100 lower by 4.75 pts or -0.06% at 8272.26, CAC 40 up 0.42 pts or +0.01% at 7175.39 and Euro Stoxx 50 down 4.19 pts or -0.09% at 4752.01.
  • Dow Jones mini up 133 pts or +0.3% at 44966, S&P 500 mini up 18.25 pts or +0.3% at 6029, NASDAQ mini up 91.75 pts or +0.44% at 20906.25.
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S&P E-Minis are unchanged and the contract is trading at this week’s highs. Sights are on the key resistance and bull trigger at 6053.25, the Nov 11 high. A break of this hurdle would resume the uptrend and open 6070.16, a Fibonacci projection. A bear trend in Eurostoxx 50 futures remains intact. A fresh cycle low on Nov 19 marked a resumption of the downtrend that started Sep 30. Price has traded through 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle.

  • Japan's NIKKEI closed lower by 141.03 pts or -0.37% at 38208.03 and the TOPIX ended 6.57 pts lower or -0.24% at 2680.71.
  • Elsewhere, in China the SHANGHAI closed higher by 30.758 pts or +0.93% at 3326.456 and the HANG SENG ended 56.65 pts higher or +0.29% at 19423.61.
  • Across Europe, Germany's DAX trades lower by 14.56 pts or -0.08% at 19408.48, FTSE 100 lower by 4.75 pts or -0.06% at 8272.26, CAC 40 up 0.42 pts or +0.01% at 7175.39 and Euro Stoxx 50 down 4.19 pts or -0.09% at 4752.01.
  • Dow Jones mini up 133 pts or +0.3% at 44966, S&P 500 mini up 18.25 pts or +0.3% at 6029, NASDAQ mini up 91.75 pts or +0.44% at 20906.25.