E-Mini S&P Contracts Moderate Close to Feb Lows

EUROSTOXX 50 futures moderated through Friday trade, finishing flat on the session. This keeps prices just below first resistance at 4303.20, the 2.382 proj of the Sep 29 - Oct 4 rise from Dec 20 low, but still above 4265.00, the Feb 3 high. Note that the trend is overbought. A pullback would represent a healthy correction. Key support lies at 4097.00, the Jan 19 low. Initial support is at 4167.50, the 20-day EMA. The S&P E-Minis trend condition is bullish and the latest pullback is considered corrective. The contract has pierced initial support at 4069.52, the 20-day EMA. Firmer support lies at the 50-day EMA, at 4006.63. A clear break of this average would signal scope for a deeper pullback and potentially highlight a reversal. Key resistance and the bull trigger intersect at 4208.50, the Feb 2 high. A breach would resume the uptrend.

• Japan's NIKKEI closed higher by 18.81 pts or +0.07% at 27531.94 and the TOPIX ended 7.78 pts higher or +0.39% at 1999.71.
• Elsewhere, in China the SHANGHAI closed higher by 66.314 pts or +2.06% at 3290.338 and the HANG SENG ended 167.15 pts higher or +0.81% at 20886.96.
• Across Europe, Germany's DAX trades lower by 14.12 pts or -0.09% at 15489.93, FTSE 100 higher by 1.67 pts or +0.02% at 8009.49, CAC 40 down 13.15 pts or -0.18% at 7351.16 and Euro Stoxx 50 down 3.52 pts or -0.08% at 4279.8.
• Dow Jones mini down 48 pts or -0.14% at 33833, S&P 500 mini down 8 pts or -0.2% at 4082.75, NASDAQ mini down 25.75 pts or -0.21% at 12377.25.