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E-mini S&P Trend Condition Remains Bullish

EQUITIES

S&P E-minis trend conditions remain bullish and the latest pullback is, for now, considered corrective. Last week’s bounce from 4114.00, May 24 low, means that support around the 50-day EMA remains intact. The average intersects at 4134.83 and a clear break of it is required to signal a reversal. Eurostoxx 50 futures traded lower again Wednesday and in the process, cleared the 50-day EMA and support at 4252.00, the May 25 low. Price has also pierced support at 4233.00, the May 4 low and a key short-term level.


  • Japan's NIKKEI closed higher by 260.13 pts or +0.84% at 31148.01 and the TOPIX ended 18.66 pts higher or +0.88% at 2149.29. In China the SHANGHAI closed higher by 0.071 pts or +0% at 3204.635 and the HANG SENG ended 17.36 pts lower or -0.1% at 18216.91.
  • Germany's DAX trades higher by 175.24 pts or +1.12% at 15837.81, FTSE 100 higher by 50.01 pts or +0.67% at 7495.79, CAC 40 up 67.14 pts or +0.95% at 7165.84 and EuroStoxx50 up 47.7 pts or +1.13% at 4265.74.
  • Dow Jones mini up 19 pts or +0.06% at 32997, S&P 500 mini up 10 pts or +0.24% at 4200.25, NASDAQ mini up 11.25 pts or +0.08% at 14311.
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