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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.
EQUITIES
S&P fut. are unwinding recent weakness as US voters go to the polls.
- E-Minis (Z0) traded lower since Oct 12 but found support on Oct 30.
- A short-term reversal is clearly highlighted by a Doji Japanese candle pattern on Oct 30.
- This pattern highlights indecision (or caution) as markets steadied themselves ahead of today's US election.
- Taking a look at the broader technical structure, we observe that:
- The current bull cycle (since March) remains intact.
- The correction lower since Sep 3 has been relatively flat.
- This suggests broader bearish sentiment has yet to surface.
- Key levels to watch:
- Support at 3198.00, Sep 24 low. A break would signal rising risk aversion
- Resistance at 3362.82 and 3374.18, the 50- and 20-day EMAs. A clear break of this zone would be bullish and open key resistance at 3541.00, Oct 12 high and 3576.25, Sep 3 high.
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.
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