April 15, 2024 08:31 GMT
Eurostoxx Dip Finds Support
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The trend condition in S&P E-Minis is unchanged and remains bullish. Near-term, the recent move down appears to be a correction and this is allowing an overbought signal to unwind. The contract has recently breached bull channel support. Eurostoxx 50 futures are trading closer to their recent lows. A corrective cycle remains in play and the move down this month is allowing an overbought trend condition to unwind. The break of support around the 20-day EMA suggests potential for a deeper retracement.
- Japan's NIKKEI closed lower by 290.75 pts or -0.74% at 39232.8 and the TOPIX ended 6.44 pts lower or -0.23% at 2753.2.
- Elsewhere, in China the SHANGHAI closed higher by 37.905 pts or +1.26% at 3057.378 and the HANG SENG ended 121.23 pts lower or -0.73% at 16600.46.
- Across Europe, Germany's DAX trades higher by 136.58 pts or +0.76% at 18056.8, FTSE 100 lower by 38.76 pts or -0.48% at 7956.44, CAC 40 up 46.09 pts or +0.58% at 8053.16 and Euro Stoxx 50 up 38.85 pts or +0.78% at 4990.94.
- Dow Jones mini up 154 pts or +0.4% at 38400, S&P 500 mini up 25.25 pts or +0.49% at 5190.75, NASDAQ mini up 93.5 pts or +0.51% at 18273.
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