EQUITIES: Estoxx put fly

The Eurostoxx 50 futures uptrend remains intact and the contract is holding on to its recent gains. Price has traded through resistance at 4438.00, the Jun 16 high and a bull trigger. The break confirms a resumption of the primary uptrend and paves the way for gains towards 4472.40, a Fibonacci projection. Initial key support is seen at 4363.20, the 20-day EMA. A pullback would be considered corrective. A bull theme in S&P E-minis remains intact and last Friday’s gains reinforce this condition. The contract has pierced key resistance and the bull trigger at 4493.75, the Jun 16 high. A clear break of this level would confirm a resumption of the uptrend and pave the way for a climb towards 4532.08, a Fibonacci projection. On the downside, key trend support has been defined at 4368.50, the Jun 26 low.

• Japan's NIKKEI closed lower by 330.81 pts or -0.98% at 33422.52 and the TOPIX ended 14.44 pts lower or -0.62% at 2306.37.
• Elsewhere, in China the SHANGHAI closed higher by 1.374 pts or +0.04% at 3245.349 and the HANG SENG ended 109.09 pts higher or +0.57% at 19415.68.
• Across Europe, Germany's DAX trades higher by 15.13 pts or +0.09% at 16098.1, FTSE 100 higher by 4.07 pts or +0.05% at 7531.5, CAC 40 up 13.47 pts or +0.18% at 7400.95 and Euro Stoxx 50 up 13.81 pts or +0.31% at 4412.09.
• Dow Jones mini down 5 pts or -0.01% at 34633, S&P 500 mini down 0.5 pts or -0.01% at 4492, NASDAQ mini down 9 pts or -0.06% at 15356.75.

The Independence Day holiday schedules for the major U.S. exchanges can be found below:

• CME
• ICE
• NASDAQ
• NYSE
• SIFMA