MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EQUITIES: E-Mini S&P Remains Firm, Holding Onto Last Week's Gains

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The move down between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4864.94, the 50-day EMA. A clear break of this average would strengthen a bullish condition. S&P E-Minis remains firm. Last week’s recovery highlights a bullish reversal and the end of the corrective cycle between Sep 3 - 6. The contract is trading above the 20- and 50-day EMAs and a continuation higher would signal scope for a test of 5730.50, Sep 3 high. Clearance of this level would open 5785.00, the Jul 16 high and bull trigger. On the downside, a reversal lower and a breach of 5451.25, the Sep 6 low, would reinstate a bearish theme.

  • Across Europe, Germany's DAX trades lower by 64.77 pts or -0.35% at 18635.27, FTSE 100 lower by 2.69 pts or -0.03% at 8270.94, CAC 40 up 1.96 pts or +0.03% at 7467.91 and Euro Stoxx 50 up 0.18 pts or +0% at 4844.71.
  • Dow Jones mini up 60 pts or +0.14% at 41484, S&P 500 mini up 4.75 pts or +0.08% at 5633.75, NASDAQ mini down 2.5 pts or -0.01% at 19524.75.
226 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 are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The move down between Sep 3 - 6, resulted in a move below both the 20- and 50-day EMAs. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4864.94, the 50-day EMA. A clear break of this average would strengthen a bullish condition. S&P E-Minis remains firm. Last week’s recovery highlights a bullish reversal and the end of the corrective cycle between Sep 3 - 6. The contract is trading above the 20- and 50-day EMAs and a continuation higher would signal scope for a test of 5730.50, Sep 3 high. Clearance of this level would open 5785.00, the Jul 16 high and bull trigger. On the downside, a reversal lower and a breach of 5451.25, the Sep 6 low, would reinstate a bearish theme.

  • Across Europe, Germany's DAX trades lower by 64.77 pts or -0.35% at 18635.27, FTSE 100 lower by 2.69 pts or -0.03% at 8270.94, CAC 40 up 1.96 pts or +0.03% at 7467.91 and Euro Stoxx 50 up 0.18 pts or +0% at 4844.71.
  • Dow Jones mini up 60 pts or +0.14% at 41484, S&P 500 mini up 4.75 pts or +0.08% at 5633.75, NASDAQ mini down 2.5 pts or -0.01% at 19524.75.