Rally in E-Mini S&Ps Thursday Erases Earlier Sell-Off

A key short-term support in Eurostoxx 50 futures at 4285.60 remains intact - for now. This is the 20-day EMA where a break is required to signal a short-term top and highlight potential for a deeper pullback - towards 4210.70, the 50-day EMA. Trend conditions remain bullish and attention is on the bull trigger at 4363.00, Apr 21 high. A break would open 4381.50, the Jan 5 2022 high (cont). S&P E-minis rallied Thursday to erase the sell-off earlier this week. A continuation higher would expose key resistance and the bull trigger at 4198.25, the Apr 18 high. Clearance of this level would confirm a resumption of the uptrend that started Mar 13. On the downside, key short-term support has been defined at 4068.75, the Apr 26 low. A move below this level would highlight a short-term bearish reversal instead.

• Japan's NIKKEI closed higher by 398.76 pts or +1.4% at 28856.44 and the TOPIX ended 24.97 pts higher or +1.23% at 2057.48.
• Elsewhere, in China the SHANGHAI closed higher by 37.39 pts or +1.14% at 3323.275 and the HANG SENG ended 54.29 pts higher or +0.27% at 19894.57.
• Across Europe, Germany's DAX trades lower by 84.63 pts or -0.54% at 15715.69, FTSE 100 lower by 38.14 pts or -0.49% at 7793.38, CAC 40 down 72.82 pts or -0.97% at 7411.12 and Euro Stoxx 50 down 44.89 pts or -1.03% at 4313.16.
• Dow Jones mini down 160 pts or -0.47% at 33769, S&P 500 mini down 18.5 pts or -0.45% at 4135.25, NASDAQ mini down 42.5 pts or -0.32% at 13189.25.