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Trend Condition in E-mini S&P Remains Bullish

EQUITIES
S&P E-minis trend conditions remain bullish. Last week’s bounce from 4114.00, May 24 low, means that support around the 50-day EMA remains intact. The average intersects at 4129.2 and a clear break of it is required to signal a reversal. Eurostoxx 50 futures managed to find support last week at 4252.00, the May 25 low. This means that for now, support around the 50-day EMA, which intersects at 4271.40, remains intact for now. A clear break of the average would expose 4233.00, May 4 low and a key short-term support.
  • Japan's NIKKEI closed higher by 94.62 pts or +0.3% at 31328.16 and the TOPIX ended 1.43 pts lower or -0.07% at 2159.22.
  • In China the SHANGHAI closed higher by 2.765 pts or +0.09% at 3224.213 and the HANG SENG ended 44.67 pts higher or +0.24% at 18595.78.
  • Germany's DAX trades higher by 54.8 pts or +0.34% at 16008.98, FTSE 100 lower by 17.88 pts or -0.23% at 7609.54, CAC 40 down 27.25 pts or -0.37% at 7277.29 and Euro Stoxx 50 up 4.66 pts or +0.11% at 4325.09.
  • Dow Jones mini up 64 pts or +0.19% at 33194, S&P 500 mini up 20.25 pts or +0.48% at 4226.5, NASDAQ mini up 139.5 pts or +0.97% at 14470.25.

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