Free Trial

Equities Struggle, S&P 500 E-minis Below 3,600

EQUITIES

The feedthrough from Friday’s move lower in U.S. equities is being bolstered by uncertainty surrounding broader policy settings in the UK, resulting in generally heavy trade for Asia-Pac cash equities and the major global equity index futures. The NASDAQ leads the weakness in e-minis, trading ~1.2% softer on the day at typing.

  • Note that the 3 major e-mini contracts have registered fresh cyclical lows, with the S&P 500 e-mini now comfortably below 3,600. The next level of meaningful technical support for that contract is seen at the 1.382 projection of the Aug 16-Sep 7-Sep 13 price swing (3,558.97). Below there, further projections of that price swing (3,506.38 & 3,453.78) are noted.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.