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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.
EQUITY TECHS
- Equity futures across the US are plumbing new pullback lows, with the e-mini S&P off by 0.5%, but the NASDAQ-100 the primary underperformer. NVIDIA trades particularly poorly - down near 7.5% as the US look to add restrictions to the company's chip sales in China.
- The NVIDIA pullback extends the reversal from last Thursday's high, raising focus on the technical backdrop:- A potential head and shoulders reversal pattern appears to be developing and if correct, is in its final stage.
- The neckline is at 414.26 and represents a key support. A clear break of the neckline is required to confirm this reversal pattern and would suggest scope for weakness below the 400.00 handle.
- Key short-term resistance is at 476.09, the Oct 12 high.
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.
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