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EQUITIES: E-Mini S&P Retains Firmer Tone After Trading Higher Again Tuesday

EQUITIES
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Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 10, highlights a potential reversal and note that moving average studies remain in a bear-mode set-up. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. This EMA has been pierced, a clear break of it would strengthen a bullish condition. S&P E-Minis traded higher again Tuesday, and the contract maintains a firmer tone. Last week’s gains highlight a bullish reversal and the end of the Sep 3 - 6 corrective cycle. The contract is trading above the 20- and 50-day EMAs and resistance at 5730.50, the Sep 3 high, remains exposed. This level has been pierced, a clear break of it would open 5785.00, the Jul 16 high and a bull trigger. First support is 5592.07, the 50-day EMA.

  • Japan's NIKKEI closed higher by 176.95 pts or +0.49% at 36380.17 and the TOPIX ended 9.61 pts higher or +0.38% at 2565.37.
  • Across Europe, Germany's DAX trades lower by 21.64 pts or -0.12% at 18707.43, FTSE 100 lower by 35.82 pts or -0.43% at 8269.76, CAC 40 down 19.19 pts or -0.26% at 7464.84 and Euro Stoxx 50 down 13.1 pts or -0.27% at 4845.81.
  • Dow Jones mini up 35 pts or +0.08% at 41673, S&P 500 mini down 0.25 pts or 0% at 5638.75, NASDAQ mini down 8.25 pts or -0.04% at 19428.25.
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Eurostoxx 50 futures are holding on to their recent gains. Despite the latest recovery, a bear threat remains present. The sell-off between Sep 3 - 10, highlights a potential reversal and note that moving average studies remain in a bear-mode set-up. A resumption of the bear leg would signal scope for weakness towards 4686.53, a Fibonacci retracement point. First resistance is at 4863.45, the 50-day EMA. This EMA has been pierced, a clear break of it would strengthen a bullish condition. S&P E-Minis traded higher again Tuesday, and the contract maintains a firmer tone. Last week’s gains highlight a bullish reversal and the end of the Sep 3 - 6 corrective cycle. The contract is trading above the 20- and 50-day EMAs and resistance at 5730.50, the Sep 3 high, remains exposed. This level has been pierced, a clear break of it would open 5785.00, the Jul 16 high and a bull trigger. First support is 5592.07, the 50-day EMA.

  • Japan's NIKKEI closed higher by 176.95 pts or +0.49% at 36380.17 and the TOPIX ended 9.61 pts higher or +0.38% at 2565.37.
  • Across Europe, Germany's DAX trades lower by 21.64 pts or -0.12% at 18707.43, FTSE 100 lower by 35.82 pts or -0.43% at 8269.76, CAC 40 down 19.19 pts or -0.26% at 7464.84 and Euro Stoxx 50 down 13.1 pts or -0.27% at 4845.81.
  • Dow Jones mini up 35 pts or +0.08% at 41673, S&P 500 mini down 0.25 pts or 0% at 5638.75, NASDAQ mini down 8.25 pts or -0.04% at 19428.25.