EuroStoxx50 Continues to Fade From Recent Highs

The E-mini S&P contract traded lower yesterday. Key resistance has been defined at 4547.75, Sep 1 high. A break is required to reinstate the recent bullish theme. Note that recent gains in the contract stalled at the area of resistance around the former bull channel base. Eurostoxx 50 futures continue to pull back from the recent high. Attention is on support at 4225.00, the Aug 24 low. Clearance of this level would signal scope for a test of the key support at 4187.00.

• Japan's NIKKEI 225 closed lower by 249.94 pts or -0.75% at 32991.08 and the TOPIX ended 9.15 pts lower or -0.38% at 2383.38.
• Elsewhere, in China the SHANGHAI closed lower by 35.725 pts or -1.13% at 3122.352 and the HANG SENG ended 247.91 pts lower or -1.34% at 18202.07.
• Across Europe, Germany's DAX trades higher by 17.28 pts or +0.11% at 15759.78, FTSE 100 higher by 14.22 pts or +0.19% at 7440.84, CAC 40 up 33.32 pts or +0.46% at 7227.21 and Euro Stoxx 50 up 4.81 pts or +0.11% at 4242.83.
• Dow Jones mini up 9 pts or +0.03% at 34488, S&P 500 mini down 8.75 pts or -0.2% at 4462.5, NASDAQ mini down 86.75 pts or -0.56% at 15312.75.