E-Mini S&P Futures Clear 4000.0 Handle, Targeting 4043.0 Dec 15 High Next

EUROSTOXX 50 futures bullish conditions remain intact and the contract traded higher again yesterday. Futures have cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The break represents a key short-term positive development and paves the way for gains towards 4175.50 next, the Feb 16 high (cont). Moving average studies are in a bull-mode condition, reinforcing the current positive trend condition. Initial support lies at 3944.00. S&P E-Minis traded higher again Thursday. The contract has this week cleared resistance at the 50-day EMA and this has strengthened the short-term bullish condition. Price has also traded above the 4000.00 handle to open 4043.00, the Dec 15 high. Key support and the bear trigger has been defined at 3788.50, the Dec 22 low. A reversal lower and a break of this level would resume bearish activity.

• Japan's NIKKEI closed lower by 330.3 pts or -1.25% at 26119.52 and the TOPIX ended 5.1 pts lower or -0.27% at 1903.08.
• Elsewhere, in China the SHANGHAI closed higher by 31.855 pts or +1.01% at 3195.306 and the HANG SENG ended 224.56 pts higher or +1.04% at 21738.66.
• Across Europe, Germany's DAX trades lower by 2.44 pts or -0.02% at 15056.08, FTSE 100 higher by 46.87 pts or +0.6% at 7841.05, CAC 40 up 29.68 pts or +0.43% at 7005.14 and Euro Stoxx 50 up 15.74 pts or +0.38% at 4142.01.
• Dow Jones mini down 25 pts or -0.07% at 34293, S&P 500 mini down 3.75 pts or -0.09% at 3999.75, NASDAQ mini down 15.75 pts or -0.14% at 11518.