EUROSTOXX 50 futures trend conditions remain bullish and the recent move lower is considered corrective - for now. Recent high prints mark an extension of the uptrend that started in early October and this maintains the price sequence of higher highs and higher lows. The recent break of 3810.00, Aug 17 high, also strengthens the case for bulls. The focus is on 4049.50, Feb 23 high (cont). First support to watch is 3896.50, the 20-day EMA. S&P E-Minis remain below last week’s high and the contract is trading closer to this week's lows. The move down is considered corrective - for now. The uptrend that started on Oct 13 remains intact but attention is on support at the 50-day EMA, which intersects at 3917.08. A clear break of this EMA would threaten bullish conditions and suggest potential for a deeper reversal. The bull trigger, to resume recent bullish activity, is at 4110.00.

• Japan's NIKKEI closed higher by 326.58 pts or +1.18% at 27901.01 and the TOPIX ended 20.06 pts higher or +1.03% at 1961.56.
• Elsewhere, in China the SHANGHAI closed higher by 9.6 pts or +0.3% at 3206.95 and the HANG SENG ended 450.64 pts higher or +2.32% at 19900.87.
• Across Europe, Germany's DAX trades higher by 22.01 pts or +0.15% at 14275.77, FTSE 100 lower by 9.3 pts or -0.12% at 7465.66, CAC 40 down 13.04 pts or -0.2% at 6632.51 and Euro Stoxx 50 down 2.22 pts or -0.06% at 3917.37.
• Dow Jones mini up 27 pts or +0.08% at 33842, S&P 500 mini up 8.5 pts or +0.21% at 3976.75, NASDAQ mini up 43 pts or +0.37% at 11698.