MNI: PBOC Net Injects CNY215.7 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1991 Weds; +0.73% Y/Y

MNI BRIEF: Aussie Q3 Wages Print At 0.8% Q/Q, 3.5% Y/Y

CHINA PBOC CONDUCTS CNY233 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1991 WEDS VS 7.1927

MNI: US Consumers See Lower Inflation, Better Jobs - NY Fed

Australia Q3 Wage Price Index +0.8% Q/Q

MNI: JAPAN OCT CORP GOODS PRICE INDEX +3.4% Y/Y; SEPT REV +3.1%

EZ/UK Bond Supply Calendar: IT, UK, DE, PO Auction Wednesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

EQUITIES: Bearish Conditions in Eurostoxx 50 Futures Remain Intact

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

A bearish condition in Eurostoxx 50 futures remains intact and last week’s fresh cycle lows reinforce current conditions, having confirmed a resumption of the bear cycle. The contract has pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break would instead highlight a reversal. Bullish conditions in S&P E-Minis remain intact and last week’s gains reinforce current conditions. A key short-term support has been defined at 5724.25, Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 157.23 pts or -0.4% at 39376.09 and the TOPIX ended 1.84 pts higher or +0.07% at 2741.52.
  • Elsewhere, in China the SHANGHAI closed lower by 48.096 pts or -1.39% at 3421.97 and the HANG SENG ended 580.05 pts lower or -2.84% at 19846.88.
  • Across Europe, Germany's DAX trades lower by 120.98 pts or -0.62% at 19326.54, FTSE 100 lower by 55.22 pts or -0.68% at 8069.98, CAC 40 down 74.69 pts or -1.01% at 7352.19 and Euro Stoxx 50 down 30.7 pts or -0.63% at 4823.33.
  • Dow Jones mini down 45 pts or -0.1% at 44401, S&P 500 mini down 8.5 pts or -0.14% at 6024, NASDAQ mini down 15 pts or -0.07% at 21203.75.
264 words

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.

A bearish condition in Eurostoxx 50 futures remains intact and last week’s fresh cycle lows reinforce current conditions, having confirmed a resumption of the bear cycle. The contract has pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break would instead highlight a reversal. Bullish conditions in S&P E-Minis remain intact and last week’s gains reinforce current conditions. A key short-term support has been defined at 5724.25, Nov 4 low. The latest rally resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. The 6000.0 psychological handle has been pierced. Sights are on 6070.16, a Fibonacci projection. Initial support is at 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 157.23 pts or -0.4% at 39376.09 and the TOPIX ended 1.84 pts higher or +0.07% at 2741.52.
  • Elsewhere, in China the SHANGHAI closed lower by 48.096 pts or -1.39% at 3421.97 and the HANG SENG ended 580.05 pts lower or -2.84% at 19846.88.
  • Across Europe, Germany's DAX trades lower by 120.98 pts or -0.62% at 19326.54, FTSE 100 lower by 55.22 pts or -0.68% at 8069.98, CAC 40 down 74.69 pts or -1.01% at 7352.19 and Euro Stoxx 50 down 30.7 pts or -0.63% at 4823.33.
  • Dow Jones mini down 45 pts or -0.1% at 44401, S&P 500 mini down 8.5 pts or -0.14% at 6024, NASDAQ mini down 15 pts or -0.07% at 21203.75.