Eurostoxx Futures Trend Direction Remains Bearish, Bear Trigger 3236.00

EUROSTOXX 50 futures remain below last week's high of 3492.00 on Oct 6. The 50-day EMA, at 3487.60, remains intact and continues to provide resistance. The broader trend direction is down and a continuation lower would open the key support and bear trigger at 3236.00, the Oct 3 low. S&P E-Minis remains below last week’s high of 3820.00 on Oct 5. The broader trend remains down and attention is on the bear trigger at 3571.75, the Oct 3 low. A break of this level would confirm a resumption of the broader downtrend and open 3558.97, a Fibonacci projection.

• Japan's NIKKEI closed lower by 4.42 pts or -0.02% at 26401.25 and the TOPIX ended 2.24 pts lower or -0.12% at 1871.24.
• Elsewhere, in China the SHANGHAI closed higher by 45.714 pts or +1.53% at 2979.792 and the HANG SENG ended 150.29 pts lower or -0.89% at 16801.24.
• Across Europe, Germany's DAX trades lower by 64.28 pts or -0.53% at 12196.36, FTSE 100 lower by 12.84 pts or -0.19% at 6909.65, CAC 40 down 19.88 pts or -0.34% at 5812.01 and Euro Stoxx 50 down 12.96 pts or -0.39% at 3336.12.
• Dow Jones mini up 81 pts or +0.28% at 29114, S&P 500 mini up 13.75 pts or +0.38% at 3607.5, NASDAQ mini up 62.75 pts or +0.58% at 10944.25.