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E-Mini S&P Trades at Fresh Multi-Month High

EQUITIES

A bullish theme in Eurostoxx 50 futures remains intact and the contract continues to climb. The fresh trend high confirms a resumption of the uptrend and maintains a bullish price sequence of higher highs and higher lows. Moving average studies are in a bull-mode position too, signalling a rising cycle. The focus is on 4561.00, a Fibonacci projection. Support to watch is at 4398.00, the 20-day EMA. A bullish theme in S&P e-minis remains intact and the contract has started this week on a bullish note. The break higher confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Note too that moving average studies are in a bull-mode position, highlighting positive market sentiment. Sights are on 4690.75, the Aug 2 high. Initial support lies at 4592.23, the 20-day EMA.


  • Japan's NIKKEI closed higher by 51.9 pts or +0.16% at 32843.7 and the TOPIX ended 5.39 pts lower or -0.23% at 2353.16.
  • Elsewhere, in China the SHANGHAI closed higher by 12 pts or +0.4% at 3003.438 and the HANG SENG ended 173.01 pts higher or +1.07% at 16374.5.
  • Across Europe, Germany's DAX trades higher by 37.29 pts or +0.22% at 16810.09, FTSE 100 higher by 56.15 pts or +0.74% at 7587.64, CAC 40 up 27.57 pts or +0.37% at 7568.52 and Euro Stoxx 50 up 18.7 pts or +0.41% at 4552.64.
  • Dow Jones mini up 80 pts or +0.22% at 36500, S&P 500 mini up 5.75 pts or +0.12% at 4629.75, NASDAQ mini up 28.25 pts or +0.17% at 16260.
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