Stock Futures Point to Lower Open Wednesday

S&P E-minis trend conditions remain bullish and the latest pullback is -for now - considered corrective. Last week’s bounce from 4114.00, May 24 low, means that support around the 50-day EMA remains intact. Eurostoxx 50 futures managed to find support last week at 4252.00, the May 25 low. This means that for now, support at the 50-day EMA, at 4272.40, remains intact. The contract is trading lower today.

• Japan's NIKKEI closed lower by 440.28 pts or -1.41% at 30887.88 and the TOPIX ended 28.59 pts lower or -1.32% at 2130.63. In China the SHANGHAI closed lower by 19.649 pts or -0.61% at 3204.564 and the HANG SENG ended 361.51 pts lower or -1.94% at 18234.27.
• Across Europe, Germany's DAX trades lower by 66.76 pts or -0.42% at 15842.4, FTSE 100 lower by 28.37 pts or -0.38% at 7493.92, CAC 40 down 50.49 pts or -0.7% at 7159.13 and EuroStoxx50 down 26.75 pts or -0.62% at 4264.64.
• In US futures space, Dow Jones mini down 64 pts or -0.19% at 33019, S&P 500 mini down 6.75 pts or -0.16% at 4207.75, NASDAQ mini down 27.75 pts or -0.19% at 14369.