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Equities Crest at New Cycle Highs

EQUITIES

The trend condition in S&P E-Minis is bullish and yesterday’s fresh cycle high reinforces current conditions. Price action continues to highlight the fact that corrections are shallow - this is a bullish signal that highlights positive market sentiment. A bullish theme in Eurostoxx 50 futures remains intact and Thursday’s rally and fresh cycle high reinforces this theme. Moving average studies remain in a bull-mode position, highlighting positive market sentiment.

  • Japan's NIKKEI 225 closed higher by 90.23 pts or +0.23% at 39688.94 and the TOPIX ended 8.26 pts higher or +0.3% at 2726.8.
  • Elsewhere, in China the SHANGHAI closed higher by 18.618 pts or +0.62% at 3046.019 and the HANG SENG ended 123.61 pts higher or +0.76% at 16353.39.
  • Across Europe, Germany's DAX trades lower by 14.19 pts or -0.08% at 17833.93, FTSE 100 lower by 17.56 pts or -0.23% at 7677.55, CAC 40 up 12.55 pts or +0.16% at 8031.01 and Euro Stoxx 50 up 9.83 pts or +0.2% at 4985.37.
  • Dow Jones mini down 41 pts or -0.11% at 38784, S&P 500 mini up 5.25 pts or +0.1% at 5167.75, NASDAQ mini up 14.75 pts or +0.08% at 18329.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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