The Traderszone Network

China’s exports grew at a much stronger than expected pace in September, while imports also rose, beating expectations of a decline.

Yet another global stock market has been halted due to a ‘glitch’.

Following notable selling before China’s trade surplus printed considerably lower than expected:

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The yen scaled a one-month high, as heightened worries about the health of the global economy continued to shore up the safe-haven Japanese currency.

BoJ Governor Haruhiko Kuroda says he’s comfortable with the yen’s fall, noting it is merely in the process of correcting from excessive strength.

Glenn Greenwald was one of the first reporters to see — and write about — the Edward Snowden files, with their revelations about the United States’ extensive surveillance of private citizens. In this searing talk, Greenwald makes the case for why you need to care about privacy, even if you’re “not doing anything you need to hide.”

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Asian stocks stumbled to seven-month lows on Monday, while crude oil prices were pinned near a four-year trough as promising trade numbers out of China failed to cheer a market still worried about faltering global growth. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.8 percent, extending last week’s 1.1 percent drop. Mainland Chinese stocks skidded 1.1 percent and Hong Kong’s Hang Seng shed 0.7 percent. Tokyo’s Nikkei was spared the pain for now thanks to a public holiday in Japan.

Futures are currently lower. Nazz -.04%, S&P futures -.05% at 1865 Dow futures -.045%.

The SPX is now down about 5.5% from the intraday highs to Fridays close. The daily charts have snapped, so looking at the weekly charts is probably more constructive at this point.

Short term support is  1901 and 1869, with resistance at 1929 and 1956.

On the weekly SPX chart I think good support comes in at, or just below the 50 day moving average. That’s not far at all.

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