Free Trial

Equity Roundup

US STOCKS

Stocks trading weaker after making modest gains after the cash open, trading desks report couple sale sale blocks on recent dips, rebounding slightly, SPX eminis trading around 4387.0 (-22.5)

Lagging sectors:

  • Energy -2.39%
  • Health Care -1.34%
  • Financials -1.26%
Technicals: SPX holding between first support of 4354.0 (intraday low) and first resistance of 4586.0 Feb 2 high and near-term bull trigger.
  • The contract has failed to hold above the 50-day EMA - at 4555.49 today. Avg still represents a firm resistance and clear breach of it is required to suggest scope for a stronger rally that would open 4671.75 initially, Jan 18 high.
  • The Jan 10 candle pattern is a bearish engulfing reversal, signalling a potential top and the recent move lower reinforces the pattern. A deeper pullback would expose 4212.75.

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.