S&P 500 futures up 0.30%, watch the trend line

S&P 500 futures are up 0.30% as I write. Euro Stoxx 50 has added 0.90%. The treasury yield curve (difference between 10-year yield and 2-year yield) is unchanged around 92 basis points.

S&P 500  cash daily chart

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Watch out for a rebound from the confluence of rising trend line and 50-day moving average of 2410 levels. The moving average is sloping higher, hence fresh bids are seen coming-in around the same.

As for today, the index is likely to open higher as indicated by the futures.

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