MNI China Daily Summary: Wednesday, December 11

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CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US MBA: MARKET COMPOSITE +5.4% SA THRU DEC 06 WK

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

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

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EQUITY TECHS: E-MINI S&P: (Z4) Shallow Correction

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5871.77 2.0% Upper Bollinger Band 
  • RES 2: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing
  • RES 1: 5830.00 High Sep 26         
  • PRICE: 5749.50 @ 07:17 BST Oct 3
  • SUP 1: 5726.75 20-day EMA     
  • SUP 2: 5656.94 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback is considered corrective. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a Fibonacci projection, and 5900.00 further out. On the downside, initial support  to watch is 5726.75, the 20-day EMA. Key support lies at 5656.94, the 50-day EMA. 

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  • RES 4: 5900.00 Round number resistance 
  • RES 3: 5871.77 2.0% Upper Bollinger Band 
  • RES 2: 5868.50 1.00 proj of the Apr 19 - Jul 16 - Aug 5 price swing
  • RES 1: 5830.00 High Sep 26         
  • PRICE: 5749.50 @ 07:17 BST Oct 3
  • SUP 1: 5726.75 20-day EMA     
  • SUP 2: 5656.94 50-day EMA  
  • SUP 3: 5500.00 Round number support  
  • SUP 4: 5451.25 Low Sep 6 and a bear trigger

A bull cycle in S&P E-Minis remains intact and the latest shallow pullback is considered corrective. Recent gains reinforce a bullish theme and note that moving average studies are in a bull-mode setup, highlighting a dominant uptrend. Scope is seen for a climb towards 5868.50, a Fibonacci projection, and 5900.00 further out. On the downside, initial support  to watch is 5726.75, the 20-day EMA. Key support lies at 5656.94, the 50-day EMA.