S&P 500 futures
The buying started as we got into the early stages of European trade and that’s helping with the overall market mood. In Europe, the DAX is leading the charge and is up 1% on the day now with the CAC 40 up 0.5%. Are dip buyers poised to seize back control? The near-term chart below will be one to watch in Wall Street later, should the risk mood hold up.
S&P 500 index hourly chart
There’s still some distance in reaching the 100-hour moving average (red line). But that’ll be the first key near-term test for dip buyers in turning the momentum back on their side.
