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Emini S&P September futures collapsed as far as support at 5635/25 The low & high for the last session were 5632 - 5717. (So you can compare the spread to the contract you trade).
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Emini Nasdaq September futures collapsed to support at 20100/20050. Last session high & low for the SEPTEMBER futures contract: 19965 - 20597.
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Emini Dow Jones September futures continue higher as expected. Last session high & low for the SEPTEMBER futures contract: 41095 - 41546.
Emini S&P September futures
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Collapsed through support at 5675/65 to the next support at 5635/25 & made a low for the day here. Longs need stops below 5620.
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I would take a break below 5620 as a sell signal targeting 5600/5595. I think there is a good chance of a low for the day here but longs need stops below 5585.
Nasdaq September futures
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Emini Nasdaq hit the buying opportunity at 20100/20050 & over ran to 19965 but made a quick recovery from here. I am looking for targets of 20200 & 20320. I would not rule out a recovery as far as 20450.
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I would try a short at 20580/620, with stops above 20690. Targets: 20500, 20400, 20250
Emini Dow Jones September futures
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Beat the all time high at 40350/360 for an important buy signal for this week hitting targets of 40630/660 & 40710/750 but we have reached as far as 41299
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Next targets: 41350/400 (hit yesterday) & 41680/710 (possible today). Support at 40680/630 & longs need stops below 40500.
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EUR/USD treads water just above 1.0400 post-US data
Another sign of the good health of the US economy came in response to firm flash US Manufacturing and Services PMIs, which in turn reinforced further the already strong performance of the US Dollar, relegating EUR/USD to the 1.0400 neighbourhood on Friday.
GBP/USD remains depressed near 1.2520 on stronger Dollar
Poor results from the UK docket kept the British pound on the back foot on Thursday, hovering around the low-1.2500s in a context of generalized weakness in the risk-linked galaxy vs. another outstanding day in the Greenback.
Gold keeps the bid bias unchanged near $2,700
Persistent safe haven demand continues to prop up the march north in Gold prices so far on Friday, hitting new two-week tops past the key $2,700 mark per troy ounce despite extra strength in the Greenback and mixed US yields.
Geopolitics back on the radar
Rising tensions between Russia and Ukraine caused renewed unease in the markets this week. Putin signed an amendment to Russian nuclear doctrine, which allows Russia to use nuclear weapons for retaliating against strikes carried out with conventional weapons.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
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