How are equity markets rebounding? S&P.....>

EQUITIES: How are equity markets rebounding?

S&P futures have broken the key 200-dma level with the market seeing general

risk-on sentiment this week. Our technical analyst sees S&P e-mini futures

continue the uptrend with the next resistance at 3028.00 (Mar 6 high) with 3108

the next key upside level, the 76.4% retracement of the Feb-Mar decline. It is

clear that across developed markets US equities are leading the rebound with the

European countries most affected by Covid seeing the smallest rebounds to date.

- S&P futures retraced 69.3% from low

- DJIA futures retraced 61.1% from low

- German DAX retraced 58% from low

- STOXX600 retraced 48.9% from low

- FTSE250 retraced 46.6% from low

- FTSE100 retraced 44% from low

- Eurostoxx 50 retraced 44.5% from low

- French CAC retraced 39.1% from low

- Italian FTSE MIB retraced 32.3% from low