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EQUITIES: E-Mini S&P Trading Above September Highs

EQUITIES
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Eurostoxx 50 futures finished Wednesday trade well, but next resistance remains out of reach for now at the September highs. Key short-term support to watch is 4935.12, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement. Recently, the contract  breached resistance at 5024.00, the Sep 3 high. This confirmed a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. Key resistance and bull trigger is 5106.00, the Sep 30 high. A bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support  to watch is 5752.03, the 20-day EMA. It has been pierced. Key support lies at 5680.78 the 50-day EMA.

  • Japan's NIKKEI closed higher by 102.93 pts or +0.26% at 39380.89 and the TOPIX ended 5.43 pts higher or +0.2% at 2712.67.
  • Elsewhere, in China the SHANGHAI closed higher by 43.068 pts or +1.32% at 3301.926 and the HANG SENG ended 614.74 pts higher or +2.98% at 21251.98.
  • Across Europe, Germany's DAX trades lower by 53.23 pts or -0.28% at 19210.75, FTSE 100 lower by 4.57 pts or -0.06% at 8234.34, CAC 40 down 14.62 pts or -0.19% at 7548.38 and Euro Stoxx 50 down 16.78 pts or -0.34% at 4969.95.
  • Dow Jones mini down 54 pts or -0.13% at 42751, S&P 500 mini down 9.25 pts or -0.16% at 5830.75, NASDAQ mini down 41 pts or -0.2% at 20416.
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Eurostoxx 50 futures finished Wednesday trade well, but next resistance remains out of reach for now at the September highs. Key short-term support to watch is 4935.12, the 50-day EMA. A clear break of this EMA would signal scope for a deeper retracement. Recently, the contract  breached resistance at 5024.00, the Sep 3 high. This confirmed a resumption of the bull leg that started Aug 5 and cancels a recent bearish theme. Key resistance and bull trigger is 5106.00, the Sep 30 high. A bull cycle in S&P E-Minis remains intact and the latest shallow pullback still appears to be a correction. Price is trading closer to its recent highs. MA studies are in a bull-mode setup, highlighting a dominant uptrend and positive market sentiment. Sights are on 5868.50, a Fibonacci projection, and 5900.00 further out. Initial support  to watch is 5752.03, the 20-day EMA. It has been pierced. Key support lies at 5680.78 the 50-day EMA.

  • Japan's NIKKEI closed higher by 102.93 pts or +0.26% at 39380.89 and the TOPIX ended 5.43 pts higher or +0.2% at 2712.67.
  • Elsewhere, in China the SHANGHAI closed higher by 43.068 pts or +1.32% at 3301.926 and the HANG SENG ended 614.74 pts higher or +2.98% at 21251.98.
  • Across Europe, Germany's DAX trades lower by 53.23 pts or -0.28% at 19210.75, FTSE 100 lower by 4.57 pts or -0.06% at 8234.34, CAC 40 down 14.62 pts or -0.19% at 7548.38 and Euro Stoxx 50 down 16.78 pts or -0.34% at 4969.95.
  • Dow Jones mini down 54 pts or -0.13% at 42751, S&P 500 mini down 9.25 pts or -0.16% at 5830.75, NASDAQ mini down 41 pts or -0.2% at 20416.