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EQUITIES: Eurostoxx 50 Target March 2000 All-Time High at 5525.00

EQUITIES
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The Eurostoxx 50 futures contract continues to appreciate. The move higher this week confirms once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. Sights are on a major resistance at 5525.00, the March 2000 all-time high. Clearance of this level would highlight a key bullish break. Initial firm support to watch lies at 5283.40, the 20-day EMA. S&P E-Minis have traded higher this week. The recovery undermines a recent bearish threat and attention turns to the next resistance at 6162.25, the Jan 24 high. Clearance of this level would expose key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would be viewed as a bearish development.

  • Japan's NIKKEI closed lower by 312.04 pts or -0.79% at 39149.43 and the TOPIX ended 6.38 pts lower or -0.23% at 2759.21.
  • Elsewhere, in China the SHANGHAI closed higher by 14.241 pts or +0.43% at 3346.724 and the HANG SENG ended 805.96 pts higher or +3.69% at 22620.33.
  • Across Europe, Germany's DAX trades lower by 13.43 pts or -0.06% at 22598.42, FTSE 100 lower by 18.01 pts or -0.21% at 8746.68, CAC 40 up 41.79 pts or +0.51% at 8206.31 and Euro Stoxx 50 up 16.08 pts or +0.29% at 5516.79.
  • Dow Jones mini down 47 pts or -0.1% at 44764, S&P 500 mini up 1.5 pts or +0.02% at 6136.75, NASDAQ mini up 17.75 pts or +0.08% at 22131.
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The Eurostoxx 50 futures contract continues to appreciate. The move higher this week confirms once again, a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. Sights are on a major resistance at 5525.00, the March 2000 all-time high. Clearance of this level would highlight a key bullish break. Initial firm support to watch lies at 5283.40, the 20-day EMA. S&P E-Minis have traded higher this week. The recovery undermines a recent bearish threat and attention turns to the next resistance at 6162.25, the Jan 24 high. Clearance of this level would expose key resistance at 6178.75, the Dec 6 ‘24 high. A move above this hurdle would resume the primary uptrend. On the downside, initial key support has been defined at 6014.00, the Feb 10 low. A break would be viewed as a bearish development.

  • Japan's NIKKEI closed lower by 312.04 pts or -0.79% at 39149.43 and the TOPIX ended 6.38 pts lower or -0.23% at 2759.21.
  • Elsewhere, in China the SHANGHAI closed higher by 14.241 pts or +0.43% at 3346.724 and the HANG SENG ended 805.96 pts higher or +3.69% at 22620.33.
  • Across Europe, Germany's DAX trades lower by 13.43 pts or -0.06% at 22598.42, FTSE 100 lower by 18.01 pts or -0.21% at 8746.68, CAC 40 up 41.79 pts or +0.51% at 8206.31 and Euro Stoxx 50 up 16.08 pts or +0.29% at 5516.79.
  • Dow Jones mini down 47 pts or -0.1% at 44764, S&P 500 mini up 1.5 pts or +0.02% at 6136.75, NASDAQ mini up 17.75 pts or +0.08% at 22131.