Fwd:>>> Earnings Are goods BUT WE Start to have some cautious comments :

SXAP Started its correction, yeterday sales data in the US were another catalyst.
More Downside to come

* Copper trade below support...

* Crude Traded below support also yesterday...

From: LAURENT CHEKROUN (MAKOR SECURITIES LO) At: 04/28/17 14:32:22
Subject: Fwd:>>> Earnings Are goods BUT WE Start to have some cautious comments :
Today :
- AUTOLIV INC ALV.N SAYS UNCERTAINTIES INCLUDE HIGH INVENTORY LEVELS AND SLOWER SALES MOMENTUM, ESPECIALLY IN NORTH AMERICA AND CHINA
- COLGATE-PALMOLIVE CO - "AS WE LOOK AHEAD, UNCERTAINTY IN GLOBAL MARKETS AND SLOWING CATEGORY GROWTH WORLDWIDE REMAIN CHALLENGING"

Last Week :
- Semiconductor Stocks Dip as Maxim Sees U.S. Auto, China Slowdown


SXAP could be a good hedge on this level . still a gap lower 579/580 to go quickly on the 558.85/560.20 (Gap & 50d MA) first support...546 next level.

We started to see also some profit taking on Mining, Copper was under pressure yesterday and Oil is quite volatile with csome pressure recently
SXXP

Copper - 263 look to be a strong resistance

Crude - trading on strong support - 200d MA (traded below yesterday) - important level to watch