E-Mini S&Ps Trade to Fresh YtD High

Eurostoxx 50 futures are trading higher today. Attention turns to resistance at 4362.00, the May 29 high. Clearance of this level would be a bullish development and signal scope for an extension higher towards key resistance at 4409.50, the Nov 18 2021 high on the continuation chart. The recent break of a number of support levels still highlights a potential bearish threat. A reversal lower would expose 4216.00, May 31 low and bear trigger. S&P E-minis traded higher Monday, starting the week on a bullish note. This confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows, marking an extension of the bull cycle that started in October 2022. The focus is on the 4400.00 handle next. The 50-day EMA, at 4217.21 marks a key support. A break would signal a reversal. Initial firm support is at 4279.15, the 20-day EMA.

• Japan's NIKKEI closed higher by 584.65 pts or +1.8% at 33018.65 and the TOPIX ended 26.02 pts higher or +1.16% at 2264.79.
• Elsewhere, in China the SHANGHAI closed higher by 4.84 pts or +0.15% at 3233.673 and the HANG SENG ended 117.11 pts higher or +0.6% at 19539.24.
• Across Europe, Germany's DAX trades higher by 54.53 pts or +0.34% at 16175.75, FTSE 100 higher by 14.27 pts or +0.19% at 7576, CAC 40 up 34.3 pts or +0.47% at 7296.51 and Euro Stoxx 50 up 21.35 pts or +0.49% at 4343.31.
• Dow Jones mini up 15 pts or +0.04% at 34106, S&P 500 mini up 12.5 pts or +0.29% at 4353.75, NASDAQ mini up 91 pts or +0.61% at 14880.25.