MNI: SPAIN AUGUST PPI -1.3% Y/Y; +1.5% M/M

MNI SEPT CHINA MONEY MARKET INDEX 30.2

MNI BRIEF: Aussie Monthly CPI Rises Slow

MNI: PBOC Sets Yuan Parity Lower At 7.0202 Weds; +3.76% Y/Y

CHINA PBOC CONDUCTS CNY196.5 BLN VIA 14-DAY REVERSE REPOS WEDS

MNI BRIEF: PBOC Cuts One-Year MLF Rate By 30bp

MNI: FRANCE SEP CONSUMER SENTIMENT 95

Australia Aug CPI +2.7% Y/Y

MNI: AUSTRALIA MONTHLY AUG CPI -0.1% MM, 2.7% YY

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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

EQUITIES: E-Mini S&P Remains Close to Recent Highs and Above Major Resistance

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures traded higher last week as the contract extended the recovery from the Sep 10 low. It is still possible that recent gains are corrective. MA studies are in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key support at 4757.00, the Sep 6 / 10 lows. Key resistance is 5024.00, the Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions. A bull cycle in S&P E-Minis remains in play and last week’s gains reinforce the current bullish condition. The contract has traded through a key and major resistance at 5785.00, the Jul 16 high and a bull trigger. A clear break of this hurdle would confirm a resumption of the long-term uptrend. Sights are on the 5800.00 handle next. First key support is 5615.51, the 50-day EMA. Initial support lies at 5668.73, the 20-day EMA.

  • Japan's NIKKEI closed higher by 216.68 pts or +0.57% at 37940.59 and the TOPIX ended 14.38 pts higher or +0.54% at 2656.73.
  • Elsewhere, in China the SHANGHAI closed higher by 114.207 pts or +4.15% at 2863.125 and the HANG SENG ended 753.45 pts higher or +4.13% at 19000.56.
  • Across Europe, Germany's DAX trades higher by 159.33 pts or +0.85% at 19006.28, FTSE 100 higher by 33.93 pts or +0.41% at 8293.72, CAC 40 up 120.19 pts or +1.6% at 7628.27 and Euro Stoxx 50 up 63.93 pts or +1.31% at 4949.5.
  • Dow Jones mini up 79 pts or +0.19% at 42583, S&P 500 mini up 14.75 pts or +0.26% at 5791.75, NASDAQ mini up 82.25 pts or +0.41% at 20164.
266 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.

Eurostoxx 50 futures traded higher last week as the contract extended the recovery from the Sep 10 low. It is still possible that recent gains are corrective. MA studies are in a bear-mode position and this highlights a downtrend. A reversal lower would refocus attention on key support at 4757.00, the Sep 6 / 10 lows. Key resistance is 5024.00, the Sep 3 high. A break would cancel a bearish theme and strengthen bullish conditions. A bull cycle in S&P E-Minis remains in play and last week’s gains reinforce the current bullish condition. The contract has traded through a key and major resistance at 5785.00, the Jul 16 high and a bull trigger. A clear break of this hurdle would confirm a resumption of the long-term uptrend. Sights are on the 5800.00 handle next. First key support is 5615.51, the 50-day EMA. Initial support lies at 5668.73, the 20-day EMA.

  • Japan's NIKKEI closed higher by 216.68 pts or +0.57% at 37940.59 and the TOPIX ended 14.38 pts higher or +0.54% at 2656.73.
  • Elsewhere, in China the SHANGHAI closed higher by 114.207 pts or +4.15% at 2863.125 and the HANG SENG ended 753.45 pts higher or +4.13% at 19000.56.
  • Across Europe, Germany's DAX trades higher by 159.33 pts or +0.85% at 19006.28, FTSE 100 higher by 33.93 pts or +0.41% at 8293.72, CAC 40 up 120.19 pts or +1.6% at 7628.27 and Euro Stoxx 50 up 63.93 pts or +1.31% at 4949.5.
  • Dow Jones mini up 79 pts or +0.19% at 42583, S&P 500 mini up 14.75 pts or +0.26% at 5791.75, NASDAQ mini up 82.25 pts or +0.41% at 20164.