Equity Futures Targeting 50-Day EMAs

EUROSTOXX 50 futures have established a bullish short-term tone following this week’s strong reversal. The 20-day EMA, at 3431.10 has been cleared, the break signals scope for an extension and this opens 3510.30, the 50-day EMA - a key resistance. Key support has been defined at 3236.00, the Oct 3 low. S&P E-Minis traded higher again Wednesday, extending Monday’s reversal from 3571.75. Prices have now topped the 20-day EMA, opening the 50-day EMA of 3931.31 for direction. Key support has been defined at 3571.75.

• Japan's NIKKEI closed higher by 190.77 pts or +0.7% at 27311.3 and the TOPIX ended 9.55 pts higher or +0.5% at 1922.47.
• Across Europe, Germany's DAX trades higher by 85.24 pts or +0.68% at 12602.37, FTSE 100 higher by 18.67 pts or +0.26% at 7072.21, CAC 40 up 19.07 pts or +0.32% at 6003.43 and Euro Stoxx 50 up 19.19 pts or +0.56% at 3466.57.
• Dow Jones mini down 40 pts or -0.13% at 30270, S&P 500 mini down 5.75 pts or -0.15% at 3788.25, NASDAQ mini down 12.5 pts or -0.11% at 11611.