Bullish EuroStoxx50 Theme Persists Into End-November

A bullish theme in S&P e-minis remains intact and price is trading closer to its recent high. Recent gains have resulted in the break of a trendline drawn from the Jul 27 high. This breach reinforces bullish conditions and signals scope for a climb towards 4597.50, the Sep 1 high. A bullish theme in Eurostoxx 50 futures remains intact and the contract traded higher Friday as the uptrend extends. Moving average studies are in a bull-mode position signalling a rising cycle and the potential for a continuation higher.

• Japan's NIKKEI closed lower by 177.86 pts or -0.53% at 33447.67 and the TOPIX ended 9.18 pts lower or -0.38% at 2381.76. Elsewhere, in China the SHANGHAI closed lower by 9.272 pts or -0.3% at 3031.7 and the HANG SENG ended 34.36 pts lower or -0.2% at 17525.06.
• Across Europe, Germany's DAX trades lower by 39.68 pts or -0.25% at 15995.56, FTSE 100 lower by 27.55 pts or -0.37% at 7463.79, CAC 40 down 10.09 pts or -0.14% at 7285.73 and Euro Stoxx 50 down 8.36 pts or -0.19% at 4365.07.
• Dow Jones mini down 81 pts or -0.23% at 35344, S&P 500 mini down 11.75 pts or -0.26% at 4561, NASDAQ mini down 38 pts or -0.24% at 15987.5.