Equity snapshot (indices)

Equity performance is mixed today as it seems risk aversion is abating. Performance this week at a glance in chart & table -

S&P 500 -

• S&P gained back some grounds lost yesterday. Federal Reserve chair Janet Yellen warned against high equity valuations.
  
• Initial jobless claims rose by 3000 to 265,000. Continuing claims dropped to 2.2228 million from prior 2.253 million.
  
  
• S&P 500 is currently trading at 2076, down -0.2% today. Immediate support lies at 1980, 2040 and resistance 2125, 2164.

FTSE -

• FTSE is down further as election uncertainty unsettles investors booking profits. FTSE is worst performer so far this week.
  
• Historically speaking FTSE usually shrugs off election related uncertainty. In fact FTSE might move up rapidly once the uncertainty settles down and policy path clears up, freeing up awaiting investments.
  
• FTSE is currently trading at 6890, down -0.6% today. Immediate support lies at 6700.        

DAX -

• DAX is trading in green today, massive selloff takes pause before NFP report tomorrow.
  
  
• Larger trend remains upwards, however bears remain in control in shorter term. Bearish engulfing in weekly chart provided the necessary strength to bears.
  
  
• German factory orders grew 0.9% in March, lower than expected 1.5%.
  
  
• DAX is currently trading at 11406, up about 0.5% today. Immediate support lies at 10550 and resistance at 11740, 12080 around. 11000 area might provide psychological support.

EuroStxx50 -

• Stocks across Europe are mixed today.

• Germany is up (+0.5%), France's CAC40 is down (-0.33%), Italy's FTSE MIB is down (-0.26%) and Spain's IBEX is down (-0.56%).

• French trade balance deteriorated to € -4.6 billion in March from €-3.6 billion in April.

• Bears remain in control, however strength seems to be fading a little.

• EuroStxx50 is currently trading at 3540, down -0.08% today. Support lies at 3450, 3300 and resistance at 3760

Nikkei -

• Nikkei opened in deep negative territory after long holiday. However after hour future is indicating further sell off.

• Japanese services PMI moved to expansionary zone in April at 51.3.

• Nikkei is currently trading at 19243, further downside is likely. Price target is coming close to 17800.

• Key support is at 18900, 18400 and resistance at 19750 area.