Pretty gloomy end to the week with European equities tracking lower since the open. Some indices have slipped below their 50dmas but the ones we have been watching this week remain above it. Eurostoxx 50 the main one, support at 3540 (50dma) and 3525 (this month’s low) – 3595 last. DAX another one, 50dma at 13490 and former Sept high at 13460. Volumes actually showing us some conviction here (up +25% vs 30dAVAT). Strangely it doesn’t feel as busy as it looks and I’m sure dealing desks would agree – Zzzz. Looking ahead, at least we have a busy week of earnings to look forward to. I attached the Redburn’s earnings and events calendar for the next two weeks so you have it in hand!
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