While Taoiseach (PM) Micheal Martin has seen a blow to his authority over the past week, it looks unlikely to unseat him as leader of the Fianna Fail (FF) party in the short term. Martin's issues stem from the ongoing presidential election campaign. The Taoiseach was viewed to have strongly pushed the campaign of public servant and former Gaelic football coach Jim Gavin as FF's candidate in the upcoming election on 24 Oct. This resulted in a significant political blowback for Martin when Gavin was forced to suspend his campaign after news came to light regarding a debt owed to a former tenant of his.
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MNI Tech Trend Monitor: https://emedia.marketnews.com/marketnewsintl/MNITechTrendMonitor.pdf
We introduce the MNI Tech Trend Monitor - This document highlights a selection of key longer-term trends that we have identified in markets that could be reaching inflection points, trend reversals/extensions or technically significant levels.
Covering:
A bull cycle in S&P E-Minis remains intact and the latest pullback has once again proved to be a shallow correction. The contract has traded to a fresh cycle today, breaching the Sep 5 high of 6541.75. This confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on the 6600.00 handle next, a Fibonacci projection. Initial support to watch is 6462.58, the 20-day EMA.