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EQUITIES: E-Mini S&P Trading Below 20- and 50-Day EMAs

EQUITIES
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Eurostoxx 50 futures have traded lower this week. The move down has resulted in a breach of support at 4914.00, the Oct 16 low. Note that 4884.06, 38.2% of the Aug 5 - Sep 30 bull cycle, has also been cleared. This exposes 4815.50 next, the 50.0% retracement point. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break is required to highlight a reversal. S&P E-Minis traded sharply lower Thursday. The contract has cleared both the 20- and 50-day EMAs - an important short-term bearish development. The break lower signals scope for an extension and has exposed the next support at 5724.00, the Oct 2 low. Clearance of this level would open 5637.60, a Fibonacci retracement. Initial firm resistance is 5831.57, the 20-day EMA. Key resistance and the bull trigger is 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 1027.58 pts or -2.63% at 38053.67 and the TOPIX ended 51.25 pts lower or -1.9% at 2644.26.
  • Elsewhere, in China the SHANGHAI closed lower by 7.81 pts or -0.24% at 3272.014 and the HANG SENG ended 189.1 pts higher or +0.93% at 20506.43.
  • Across Europe, Germany's DAX trades higher by 71.25 pts or +0.37% at 19148.6, FTSE 100 higher by 43.85 pts or +0.54% at 8153.39, CAC 40 up 40.13 pts or +0.55% at 7390.5 and Euro Stoxx 50 up 22.51 pts or +0.47% at 4850.14.
  • Dow Jones mini up 81 pts or +0.19% at 42028, S&P 500 mini up 17.5 pts or +0.31% at 5756.25, NASDAQ mini up 85.75 pts or +0.43% at 20107.5.
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Eurostoxx 50 futures have traded lower this week. The move down has resulted in a breach of support at 4914.00, the Oct 16 low. Note that 4884.06, 38.2% of the Aug 5 - Sep 30 bull cycle, has also been cleared. This exposes 4815.50 next, the 50.0% retracement point. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break is required to highlight a reversal. S&P E-Minis traded sharply lower Thursday. The contract has cleared both the 20- and 50-day EMAs - an important short-term bearish development. The break lower signals scope for an extension and has exposed the next support at 5724.00, the Oct 2 low. Clearance of this level would open 5637.60, a Fibonacci retracement. Initial firm resistance is 5831.57, the 20-day EMA. Key resistance and the bull trigger is 5927.25, the Oct 17 high.

  • Japan's NIKKEI closed lower by 1027.58 pts or -2.63% at 38053.67 and the TOPIX ended 51.25 pts lower or -1.9% at 2644.26.
  • Elsewhere, in China the SHANGHAI closed lower by 7.81 pts or -0.24% at 3272.014 and the HANG SENG ended 189.1 pts higher or +0.93% at 20506.43.
  • Across Europe, Germany's DAX trades higher by 71.25 pts or +0.37% at 19148.6, FTSE 100 higher by 43.85 pts or +0.54% at 8153.39, CAC 40 up 40.13 pts or +0.55% at 7390.5 and Euro Stoxx 50 up 22.51 pts or +0.47% at 4850.14.
  • Dow Jones mini up 81 pts or +0.19% at 42028, S&P 500 mini up 17.5 pts or +0.31% at 5756.25, NASDAQ mini up 85.75 pts or +0.43% at 20107.5.