E-mini S&P Remains in Bull Mode

The E-mini S&P contract remains in a bull mode condition and is trading just below last week’s high of 4609.25 (Jul 19). The contract has recently tested the top of the bull channel drawn off the March 13 low - the top intersects at 4627.50 today. Eurostoxx 50 futures remain in consolidation mode but continue to trade closer to their recent highs and price is holding above the 50-day EMA at 4353.30. Attention is on key resistance and the bull trigger at 4447.00, the Jul 3 high.

• Japan's NIKKEI closed lower by 14.17 pts or -0.04% at 32668.34 and the TOPIX ended 2.29 pts lower or -0.1% at 2283.09.
• Elsewhere, in China the SHANGHAI closed lower by 8.493 pts or -0.26% at 3223.028 and the HANG SENG ended 69.26 pts lower or -0.36% at 19365.14.
• Across Europe, Germany's DAX trades lower by 52.11 pts or -0.32% at 16162.57, FTSE 100 lower by 13.03 pts or -0.17% at 7681.19, CAC 40 down 80.39 pts or -1.08% at 7338.5 and EuroStoxx50 down 32.75 pts or -0.75% at 4360.02.
• Dow Jones mini down 52 pts or -0.15% at 35550, S&P 500 mini down 1.25 pts or -0.03% at 4598.75, NASDAQ mini down 20.25 pts or -0.13% at 15651.75.