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Following Friday's rebound off....>

EUROSTOXX50 TECHS
EUROSTOXX50 TECHS: Following Friday's rebound off of Thursday's low of 2908.70,
Eurostoxx continued to move higher in thin trading on Monday. Despite this, the
focus remains to the downside. To point to a more neutral outlook, the 38.2%
retracement of 3244.98-2908.70 at 3037.16 and the 21-dma/50% retracement at
3068.89/76.84 need to be cleared. This would return focus initially to the
mid-December high. The recent fall took out both the channel bottom and Nov 2016
lows, leaving little near-term support heading into the new year.

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