Trend Condition in E-Mini S&P Unchanged and Bullish

Eurostoxx 50 futures traded higher again Friday delivering another fresh cycle high that confirms a resumption of the current uptrend. This reinforces bullish conditions and the importance of the recent break of a key resistance at the Dec 14 high of 4634.00. The clear breach of the 4700.00 handle paves the way for a climb towards 4753.50, a Fibonacci projection. Initial firm support lies at 4629.10, the 20-day EMA. The trend condition in S&P E-Minis is unchanged and remains bullish - last week’s gains reinforce current conditions. The contract traded to a fresh cycle high again on Friday, confirming a resumption of the uptrend. Recent corrections have been shallow - this highlights a strong uptrend. The focus is on 5050.14, a Fibonacci projection. On the downside, initial key short-term support has been defined at 4866.00, the Jan 31 low.

• Across Europe, Germany's DAX trades higher by 62.46 pts or +0.37% at 16988.39, FTSE 100 lower by 6.91 pts or -0.09% at 7565.41, CAC 40 up 28.97 pts or +0.38% at 7676.33 and Euro Stoxx 50 up 14.83 pts or +0.31% at 4730.47.
• Dow Jones mini down 49 pts or -0.13% at 38698, S&P 500 mini down 0.25 pts or -0.01% at 5043.75, NASDAQ mini up 14.5 pts or +0.08% at 18053.25.