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Equity Roundup


Stocks making modest gains after the cash open, off early overnight lows, SPX eminis trading around 4516.5 (+19.0)

  • Leading sectors:
  • Energy +1.21%
  • Utilities +0.96%
  • Consumer Staples +0.62%
  • Technicals: S&P E-minis have failed to hold above the 50-day EMA - at 4561.44 today. This average continues to provide a firm resistance and a clear breach of it is required to suggest scope for a stronger rally that would open 4671.75 initially, Jan 18 high.
    • Note that yesterday's candle pattern is a bearish engulfing reversal, signalling a potential top. Watch support at 4438.50, Feb 4 low. A break would suggest scope for a deeper sell-off
  • Weaker levels out of Asia overnight, European bourses lagging US bounce:
    • Shanghai Shenzen CSI 300 -0.60% to 4603.2 (-27.6), Hang Seng -0.52% to 24860.0 (-130).
    • Europe: EuroStoxx currently -.5% at 4168.0 (-21.0), DAX -0.08% at 15490.0; while FTSE slips -0.53% to 7573.

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