Eurostoxx 50 Futures, E-Mini S&Ps Trade to Fresh Cycle Highs

Eurostoxx 50 futures traded higher yesterday and cleared resistance at 4363.00, the Apr 21 high and the bull trigger. The break confirms a resumption of the bull cycle that started Mar 20 and confirms a continuation of the medium-term uptrend. This opens the 4400.00 handle ahead of 4409.50, the Nov 18 2021 high on the continuation chart and a key resistance. Key support has been defined at 4233.00, the May 4 low. S&P E-minis traded higher again Thursday and the contract has cleared key 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 key short-term 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 higher by 234.42 pts or +0.77% at 30808.35 and the TOPIX ended 3.84 pts higher or +0.18% at 2161.69.
• Elsewhere, in China the SHANGHAI closed lower by 13.778 pts or -0.42% at 3283.542 and the HANG SENG ended 276.68 pts lower or -1.4% at 19433.46.
• Across Europe, Germany's DAX trades higher by 98.71 pts or +0.61% at 16219.06, FTSE 100 higher by 29.5 pts or +0.38% at 7762.06, CAC 40 up 44.86 pts or +0.6% at 7476.98 and Euro Stoxx 50 up 31.42 pts or +0.72% at 4385.35.
• Dow Jones mini up 25 pts or +0.07% at 33627, S&P 500 mini up 5.5 pts or +0.13% at 4215.75, NASDAQ mini up 23 pts or +0.17% at 13907.