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Eurostoxx 50 Futures Continue to Trade Close to Recent Cycle Highs

EQUITIES

A bullish trend condition in Eurostoxx 50 futures remains intact and the contract is trading at its recent highs. Moving average studies are in a bull-mode position and this continues to reflect positive market sentiment. Sights are on the psychological 5000.00 handle. Clearance of this level would strengthen the bullish condition. On the downside, initial firm support lies at 4876.40, the 20-day EMA. The trend condition in S&P E-Minis remains bullish. Recent fresh cycle highs, reinforce current conditions and note that price action continues to highlight the fact that corrections remain shallow. This is an important bullish signal, reflecting positive market sentiment. Support to watch is 5175.27 the 20-day EMA. A clear break of this EMA would open 5065.11, the 50-day EMA. Sights are on 5300.00 next.


  • In China the SHANGHAI closed higher by 16.93 pts or +0.55% at 3079.686 and the HANG SENG ended 13.59 pts higher or +0.08% at 16543.07.
  • Across Europe, Germany's DAX trades lower by 22.44 pts or -0.12% at 17957.37, FTSE 100 lower by 7.21 pts or -0.09% at 7724.77, CAC 40 down 65.83 pts or -0.8% at 8127.68 and Euro Stoxx 50 down 21.06 pts or -0.42% at 4982.13.
  • Dow Jones mini down 29 pts or -0.07% at 39521, S&P 500 mini down 7 pts or -0.13% at 5238, NASDAQ mini down 25.75 pts or -0.14% at 18264.
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