EQUITIES: E-Mini S&P Trading at Fresh Cycle High, Focus on $6057.00 Next
Eurostoxx 50 futures continue to trade at their recent highs. The trend condition is bullish - moving average studies are in a bull-mode position, highlighting a clear dominant uptrend. Sights are on 5516.00, the Mar 3 high and the key bull trigger. Clearance of this level would strengthen the bull theme. Key support to watch lies at 5205.88, the 50-day EMA. A clear break of this average would signal a possible reversal. The trend condition in S&P E-Minis remains bullish and the contract has again traded to a fresh cycle high, today. The recent break of 5993.50, the May 20 high and a bull trigger, highlights a resumption of the uptrend and maintains a price sequence of higher highs and higher lows. Sights are on 6057.00 next, the Mar 3 high. Key support to watch lies at 5808.04, the 50-day EMA.
- Japan's NIKKEI closed higher by 209.68 pts or +0.55% at 38421.19 and the TOPIX ended 2.48 pts higher or +0.09% at 2788.72.
- Elsewhere, in China the SHANGHAI closed higher by 17.5 pts or +0.52% at 3402.316 and the HANG SENG ended 204.07 pts higher or +0.84% at 24366.94.
- Across Europe, Germany's DAX trades higher by 69.8 pts or +0.29% at 24056.77, FTSE 100 higher by 22.6 pts or +0.26% at 8875.77, CAC 40 up 33.89 pts or +0.43% at 7838.18 and Euro Stoxx 50 up 12.65 pts or +0.23% at 5427.91.
- Dow Jones mini down 38 pts or -0.09% at 42872, S&P 500 mini down 4.75 pts or -0.08% at 6040, NASDAQ mini down 8.75 pts or -0.04% at 21954.5.
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