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EQUITIES: E-Minis A Little Higher Heading Into Cash Open

EQUITIES
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E-mini futures are 0.18-0.29% higher, with the NASDAQ 100 leading and the S&P 500 lagging at the margin.

  • The latest Chinese monetary stimulus package supported global equities overnight, before Israel signalled an intensification of its attacks on Hezbollah, knocking futures away from best levels.
  • Contracts have recovered into the cash open.
  • Technically, a bull cycle in S&P 500 e-minis remains in play and last week’s gains reinforce the current bullish conditions.
  • The contract has traded through key resistance and the bull trigger at the July 16 high. A clear break of this hurdle would confirm a resumption of the long-term uptrend. Sights are on 5,800.00 next.
  • The DJIA is set to register another fresh record high when cash markets open, although the S&P 500 may not manage to do so, at least on the open. 
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E-mini futures are 0.18-0.29% higher, with the NASDAQ 100 leading and the S&P 500 lagging at the margin.

  • The latest Chinese monetary stimulus package supported global equities overnight, before Israel signalled an intensification of its attacks on Hezbollah, knocking futures away from best levels.
  • Contracts have recovered into the cash open.
  • Technically, a bull cycle in S&P 500 e-minis remains in play and last week’s gains reinforce the current bullish conditions.
  • The contract has traded through key resistance and the bull trigger at the July 16 high. A clear break of this hurdle would confirm a resumption of the long-term uptrend. Sights are on 5,800.00 next.
  • The DJIA is set to register another fresh record high when cash markets open, although the S&P 500 may not manage to do so, at least on the open.