Free Trial

Recent Gains Corrective with Futures Outlook Still Bearish

EQUITIES

S&P E-Minis trend conditions remain bearish and short-term gains are considered corrective. The recent move lower strengthens bearish conditions and attention is on key support at 3657.00, the Jun 17 low. EUROSTOXX 50 futures trend conditions remain bearish and yesterday’s fresh trend low reinforces current conditions. This week's bearish extension confirms a continuation of the reversal on Sep 13 from 3678.00.


  • Japan's NIKKEI closed lower by 484.84 pts or -1.84% at 25937.21 and the TOPIX ended 32.86 pts lower or -1.76% at 1835.94.
  • Elsewhere, in China the SHANGHAI closed lower by 16.815 pts or -0.55% at 3024.39 and the HANG SENG ended 56.96 pts higher or +0.33% at 17222.83.
  • Across Europe, Germany's DAX trades higher by 147.93 pts or +1.24% at 12124.5, FTSE 100 higher by 68.39 pts or +0.99% at 6949.98, CAC 40 up 67.7 pts or +1.19% at 5745.23 and Euro Stoxx 50 up 37.08 pts or +1.13% at 3316.32.
  • Dow Jones mini up 219 pts or +0.75% at 29493, S&P 500 mini up 33.5 pts or +0.92% at 3685.5, NASDAQ mini up 104.25 pts or +0.93% at 11325.

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.