Free Trial

Late Equity Roundup, Strong Finish, SPX Through 200-DMA


Stock indexes finishing the week at the highest levels in a month: SPX emini through second key resistance of 4446.2 (200-dma) to 4457.5 +55.25 (1.26%). Meanwhile, Dow trades -274.17 (0.8%) at 34754.93, and Nasdaq +279.1 (2%) at 13893.84.

  • Carry-over bid from China indexes on hopes of a rate cut, trading desks also cited various factors for support: triple witching expiration buying/squaring, and technical support as SPX eminis trade through first resistance 50D EMA of 4410.0 and second resistance 200-dma opens next key resistance of February highs of 4476.50.
  • SPX leading/lagging sectors: Information Technology rebounds (+2.19%) with Semiconductor sector (+2.90%) outpacing Software/Service (+2.01%) outpacing Hardware makers (+1.96%); Consumer Discretionary (+2.18) driven by Auto makers. Laggers: Utilities (-0.90%) and Energy (+0.09%).
  • Dow Industrials Leaders/Laggers: (CRM) +8.09 at 218.5 and NIKE (NKE) +3.79 at 131.22. Laggers: Travelers (TRV) insurance pares earlier losses to -0.88 at 180.19; United Health (UNH) paring losses -1.30 at 505.87.

To read the full story



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.