FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: Trend Conditions in E-Mini S&P Unchanged and Bullish

EQUITIES

The trend condition in Eurostoxx 50 futures remains bullish. The recovery from the Jun 14 low appears to be an early reversal of the May 16 - Jun 14 correction. Attention is on 5039.84, a Fibonacci retracement. A break of this level would be a positive development. For bears, a reversal lower would signal a resumption of the bearish corrective cycle and open 4846.00, the Apr 19 low and a key support. The trend condition in S&P E-Minis is unchanged and signals remain bullish. Resistance at 5430.75, the May 23 high and bull trigger, has recently been cleared. This break confirmed a resumption of the primary uptrend. Note that moving average studies are in a bull-mode position and this continues to highlight positive sentiment. Sights are on 5594.66, a Fibonacci projection. Support to watch is 5484..21, the 20-day EMA.

  • Japan's NIKKEI closed higher by 47.98 pts or +0.12% at 39631.06 and the TOPIX ended 14.65 pts higher or +0.52% at 2824.28.
  • Across Europe, Germany's DAX trades higher by 108.55 pts or +0.6% at 18344.52, FTSE 100 higher by 41.01 pts or +0.5% at 8204.78, CAC 40 up 131.21 pts or +1.75% at 7610.61 and Euro Stoxx 50 up 57.39 pts or +1.17% at 4951.41.
  • Dow Jones mini up 58 pts or +0.15% at 39527, S&P 500 mini up 8.5 pts or +0.15% at 5530, NASDAQ mini up 30.5 pts or +0.15% at 19958.5.
EquitiesBulletFixed Income BulletsForeign Exchange Bullets

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.