EQUITIES: Futures Off Slightly, But Still Hold Bulk of Week's Gains

EUROSTOXX 50 futures have established a bullish short-term tone following this week’s strong reversal. The 20-day EMA, at 3431.10 has been cleared, the break signals scope for an extension and this opens 3510.30, the 50-day EMA - a key resistance. Key support has been defined at 3236.00, the Oct 3 low. S&P E-minis traded lower on Thursday, though have held onto the majority of gains from Monday's reversal from 3571.75. Prices had topped the 20-day EMA on an intraday basis, turning focus to the the 50-day EMA of 3912.75 for direction. Key support has been defined at 3571.75.

• Japan's NIKKEI closed lower by 195.19 pts or -0.71% at 27116.11 and the TOPIX ended 15.67 pts lower or -0.82% at 1906.8.
• Across Europe, Germany's DAX trades lower by 48.33 pts or -0.39% at 12423.87, FTSE 100 lower by 8.1 pts or -0.12% at 6990, CAC 40 down 13.11 pts or -0.22% at 5924.47 and Euro Stoxx 50 down 16.31 pts or -0.48% at 3417.94.
• Dow Jones mini down 54 pts or -0.18% at 29912, S&P 500 mini down 13 pts or -0.35% at 3741.75, NASDAQ mini down 64 pts or -0.55% at 11469.25.