Equity Futures: Dow +64.00. S&P +7.40. NASDAQ +13.00. Japanese Nikkei +50.00. German Dax +68.00
Global
markets found the strength to trade in the green on Tuesday morning,
extending the rally started in March. The Asian session was relatively
flat, but the market experienced a strong pick-up in momentum and
volumes in futures market trade ahead of the European open. The gains
seen in the equity markets during the European session added strong
weight to the currency and commodity markets, sending them to the
highest value of the last few days of trading.
European Trade: The
European markets added approximately 1% during the first part of the
session, with the emerging markets slightly outperforming the developed
markets, again. The European blue chip companies gained almost 1%,
while the major Eastern-European companies advanced around 1.20%, the
strongest performance of the last few days of trading. Helped by
today's surge, the European shares cap the declines seen in Monday
trade, and approach the high of the current year once again.
S&P Futures: The
S&P futures gained 5 points during the European hours, after a
relatively flat Asian session. They found the strength to break above
the 1065.00 area, where an intra-day resistance trend-line that has
been holding the future index for almost four days now came into play.
The next target to the upside is the 1070 area, where the index topped
during the last few days of trading. A test of the 1070.00 level would
pull the dollar index down to test 75.00 support, thereby empowering
the euro and the rest of the major currencies.
S&P Technical View: 
TheLFB Member Charts: S&P Futures
This is one of three charts posted daily the Dollar Index, and one of
thirty available each day for LFB members that cover global equity,
oil, gold, dollar index, plus six major currency pairs.
4 Hour chart trend: Short possibilities. Main price points: 1070, and 1085. Looking for: Break through the trend line support.
S&P
futures have bounced from the lower support line of the trading channel
recently, which drove the Us dollar lower against the majors in the
last two sessions. Traders should definitely not look on the short side
of the market yet, as this bounce may be the key for another move into
new highs before the bears will be show themselves. Any break and hold
of the 1070 highs will put a new target of a fifth wave into play,
somewhere around the 1085 Fibonacci resistance area.
Sector Moves:
Every sector advanced in Europe, as the market enjoyed very strong
overall momentum.
