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Eurostoxx Futures, E-Mini S&P Holds on to Recent Gains

EQUITIES

EUROSTOXX 50 futures bullish conditions remain intact and the contract is trading holding on to its recent gains. Futures have recently cleared resistance at 4043.00, the Dec 13 high and a bull trigger. The break marks a key short-term positive development and paves the way for gains towards 4215.00 next, a Fibonacci projection. Moving average studies are in a bull-mode condition, reinforcing the bull theme. Initial firm support is 4015.70. S&P E-Minis are trading at their recent highs and conditions remain bullish. The contract has cleared resistance at the 50-day EMA and this has strengthened the short-term bullish condition. Price has also traded above the 4000.00 handle to open 4043.00 next, the Dec 15 high. Key support and the bear trigger has been defined at 3788.50, the Dec 22 low. A reversal lower and a break of this support would resume bearish activity.


  • Japan's NIKKEI closed higher by 652.44 pts or +2.5% at 26791.12 and the TOPIX ended 32.04 pts higher or +1.68% at 1934.93.
  • Elsewhere, in China the SHANGHAI closed higher by 0.161 pts or +0.01% at 3224.406 and the HANG SENG ended 100.36 pts higher or +0.47% at 21678.
  • Across Europe, Germany's DAX trades lower by 8.1 pts or -0.05% at 15181.25, FTSE 100 lower by 3.04 pts or -0.04% at 7848.4, CAC 40 up 5.13 pts or +0.07% at 7084.53 and Euro Stoxx 50 up 1.1 pts or +0.03% at 4176.31.
  • Dow Jones mini down 12 pts or -0.04% at 34006, S&P 500 mini up 1.75 pts or +0.04% at 4010.75, NASDAQ mini up 6 pts or +0.05% at 11629.5.
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