E-Mini S&Ps Remain Close to Recent Highs Despite Slight Downtick Tuesday

Eurostoxx 50 futures outlook remains bullish and the contract is trading at its recent highs. Price has recently cleared resistance at 4363.00, the Apr 21 high and a bull trigger. The break confirms a resumption of the bull cycle from Mar 20 and a continuation of the medium-term uptrend. This opens 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Firm support is at 4263.00, the 50-day EMA. The S&P E-minis trend needle continues to point north. The contract traded higher last week and breached key short-term resistance and the bull trigger at 4206.25, the May 1 high. Clearance of this level confirms an extension of the bull trend from Mar 13. This opens 4244.00, the Feb 2 high and the next important resistance. Key support is at 4062.25, the May 4 low. A move through this level would highlight a bearish threat.

• Japan's NIKKEI closed lower by 129.05 pts or -0.42% at 30957.77 and the TOPIX ended 14.41 pts lower or -0.66% at 2161.49.
• Elsewhere, in China the SHANGHAI closed lower by 50.231 pts or -1.52% at 3246.238 and the HANG SENG ended 246.92 pts lower or -1.25% at 19431.25.
• Across Europe, Germany's DAX trades lower by 17.84 pts or -0.11% at 16205.32, FTSE 100 higher by 4.33 pts or +0.06% at 7776.75, CAC 40 down 58.53 pts or -0.78% at 7417.32 and Euro Stoxx 50 down 18.38 pts or -0.42% at 4365.79.
• Dow Jones mini down 46 pts or -0.14% at 33315, S&P 500 mini down 3.25 pts or -0.08% at 4202.25, NASDAQ mini up 0.25 pts or +0% at 13905.5.