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Wall Street Finishes Week on a High Note

EQUITIES
  • Equity markets traded solidly Friday, finishing the week on a high note as strength across communication services and tech names more than countered weakness in energy, financials and real estate. The e-mini S&P saw decent buying interest at the London close, with a flurry of volume that surmounted that seen at the opening bell.
  • The move confirmed the corrective nature of week's pullback, reinforcing the underlying bullish theme. Another all-time high print on Nov 5 confirmed a resumption of the uptrend and the focus is on 4717.00 next, a Fibonacci projection. Trend signals such as moving average studies remain in a bull mode, reinforcing current conditions and market sentiment. The 50-day EMA at 4507.32 continues to represent the key support handle.
  • European indices traded more mixed, with the EuroStoxx 50 gaining at the expense of the FTSE-100 and Spain's IBEX-35.

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