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JGB TECHS

(M2) Correction Extends

US STOCKS

Late Session Rebound

AUSSIE 10-YEAR TECHS

(M2) Corrective Cycle Remains In Play

AUSSIE 3-YEAR TECHS

(M2) Gains Still Considered Corrective

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EQUITIES
  • S&P E-minis took another leg lower, following a substantial move from the earlier highs at 4487. Breaking below the 4400 mark, this has extended the decline to around 6% on the week.
  • The move lower below the 50-day EMA has accelerated and a key support at 4485.75 has been cleared, the Dec 3 low, significantly strengthening the bearish technical case.
  • The next immediate level of note is 4383.85, a Fibonacci retracement. Below here may open up the potential for a move to 4311.00 Low Oct 12.
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com

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