MNI BRIEF: NY Fed Tool Indicates Reserves Remain Abundant

MNI: IMF Chief Warns Of 'Frightening" Loss Of Fiscal Room

MNI BRIEF: Any Trade Obstacles A Downside Risk - Lagarde

MNI China Daily Summary: Thursday, October 17

MNI BRIEF: Beijing Awaiting EU Response On Next Stage Talks

MNI BRIEF: PBOC Eyes Real Estate Relending Tools Enhancement

MNI: US AUG BUSINESS INVENTORIES +0.3%; SALES -0.2%

MNI: US NAHB HOUSING MARKET INDEX 43 IN OCT

MNI: US SEP INDUSTRIAL PROD -0.3%; CAP UTIL 77.5%

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

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 Trend Condition Unchanged, Outlook Bullish

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures traded sharply lower Tuesday, reversing recent gains. The contract has pierced support around the 50-day EMA, at 4944.00. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, a Fibonacci retracement. Key resistance and bull trigger is unchanged at 5106.00, the Sep 30 high. A break of this level would resume the uptrend. S&P E-Minis trend conditions are unchanged and the outlook remains bullish. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Sights are on 5961.00, a Fibonacci projection. Initial support to watch is 5789.86, the 20-day EMA.

  • Japan's NIKKEI closed lower by 269.11 pts or -0.69% at 38911.19 and the TOPIX ended 2.83 pts lower or -0.11% at 2687.83.
  • Elsewhere, in China the SHANGHAI closed lower by 33.564 pts or -1.05% at 3169.384 and the HANG SENG ended 207.75 pts lower or -1.02% at 20079.1.
  • Across Europe, Germany's DAX trades higher by 140.89 pts or +0.73% at 19573.64, FTSE 100 higher by 7.86 pts or +0.09% at 8336.88, CAC 40 up 78.48 pts or +1.05% at 7570.48 and Euro Stoxx 50 up 35.68 pts or +0.73% at 4944.39.
  • Dow Jones mini down 11 pts or -0.03% at 43330, S&P 500 mini up 18.25 pts or +0.31% at 5905.25, NASDAQ mini up 127.5 pts or +0.63% at 20477.75.
245 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 sharply lower Tuesday, reversing recent gains. The contract has pierced support around the 50-day EMA, at 4944.00. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, a Fibonacci retracement. Key resistance and bull trigger is unchanged at 5106.00, the Sep 30 high. A break of this level would resume the uptrend. S&P E-Minis trend conditions are unchanged and the outlook remains bullish. Recent gains confirm a resumption of the primary uptrend and maintain the bullish price sequence of higher highs and higher lows. Note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Sights are on 5961.00, a Fibonacci projection. Initial support to watch is 5789.86, the 20-day EMA.

  • Japan's NIKKEI closed lower by 269.11 pts or -0.69% at 38911.19 and the TOPIX ended 2.83 pts lower or -0.11% at 2687.83.
  • Elsewhere, in China the SHANGHAI closed lower by 33.564 pts or -1.05% at 3169.384 and the HANG SENG ended 207.75 pts lower or -1.02% at 20079.1.
  • Across Europe, Germany's DAX trades higher by 140.89 pts or +0.73% at 19573.64, FTSE 100 higher by 7.86 pts or +0.09% at 8336.88, CAC 40 up 78.48 pts or +1.05% at 7570.48 and Euro Stoxx 50 up 35.68 pts or +0.73% at 4944.39.
  • Dow Jones mini down 11 pts or -0.03% at 43330, S&P 500 mini up 18.25 pts or +0.31% at 5905.25, NASDAQ mini up 127.5 pts or +0.63% at 20477.75.