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Global Market Wrap: High Moments

By Marco Hague

 About this article:
 Equity Futures: Dow +23.00. S&P +4.60. Nasdaq +4.50. Japan Nikkei +30.00. German DAX +5.00. U.S. Trade: On thin volumes, the major U.S. indexes crawled above the breakeven line in Wednesday trading, after S&P futures briefly moved above the 1100.00 benchmark level to reach a new high for the year. The equity market saw strong momentum during the overnight session, with the European markets opening strongly in the green. However, the market's sentiment was played down by three important Federal Reserve officials, Richard Fisher, Janet Yellen and Dennis Lockhart, who said that that the recovery phase would be slow and long, while the unemployment rate would remain at high levels for an extended period. S&P Technical View: TheLFB Member Charts Daily Chart Trend: Long. Main price points: 1100-1120. Looking for: Wave 5 or C top. The price structure on the daily chart is showing two valid scenarios. On the left-hand...

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