E-mini S&P Remains Within Range of Contract Highs

The E-mini S&P contract is trading below last week’s high of 4609.25 (Jul 19). Prices have recently tested the top of the bull channel drawn off the March 13 low - the channel top intersects at 4622.12 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 4351.00. Attention is on key resistance and the bull trigger at 4447.00, the Jul 3 high.

• Japan's NIKKEI closed lower by 18.43 pts or -0.06% at 32682.51 and the TOPIX ended 4.2 pts higher or +0.18% at 2285.38.Elsewhere, in China the SHANGHAI closed higher by 67.36 pts or +2.13% at 3231.521 and the HANG SENG ended 766.25 pts higher or +4.1% at 19434.4.
• Across Europe, Germany's DAX trades higher by 4.8 pts or +0.03% at 16195.52, FTSE 100 higher by 12.46 pts or +0.16% at 7691.24, CAC 40 up 3.07 pts or +0.04% at 7430.38 and Euro Stoxx 50 up 5.23 pts or +0.12% at 4388.26.
• Dow Jones mini up 6 pts or +0.02% at 35586, S&P 500 mini up 9 pts or +0.2% at 4592.5, NASDAQ mini up 63 pts or +0.4% at 15624.5.