Overnight Futures Update 11/12/2010: Nikkei, E-mini S&P, Dollar Index (Flight From Risk)

Overnight futures technical update: The December Nikkei 225 Future pierced the September shelf (9,730, -1.22%, Chart 1), December E-Mini S&P Future is testing ascending channel support with potential breakdown risk (1,196.75, -1.18%, Chart 2) and the December Dollar Index Future is heading towards downtrend resistance from June (78.53 +0.22%, Chart 3). Cotton is down for the third day in a row after putting in that blow off top (151.95) on 11/10. The March Cotton Future is trading at 134.3, -3.51%. It doubled in 4 months. See charts and news driving the flight from "risk" after the jump.

NKZ10 | Nikkei 225 Index December 2010 Future (optionsxpress)

ESZ10 | E-mini S&P 500 December 2010 Future

DXZ10 | Dollar Index December 2010 Future

News driving the market:

European, U.S. Stock-Index Futures Sink on China Interest Rate Speculation (European GDP and Commodities) - Bloomberg

Japanese Stocks Decline as Exporters Fall on Growth Concerns; Banks Drop - Bloomberg

China Commodity Futures Tumble on Tightening Concern as Inflation Jumps - Bloomberg

Corporate Bond Risk Rises in Europe, Credit-Default Swaps Show - Bloomberg

No deal: Seoul's G20 summit fails to deliver on currencies, trade imbalances - The Australian

and this was interesting: Red alert over North Korean plan to attack G20 summit with biochemical filled balloons - Mail Online

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