Global stock markets rose on strong European and U.S. shares on Thursday, with stocks brushing off a rapid re-acceleration in coronavirus cases and oil and the dollar extending their first-half rallies. On Wall Street, the S&P500 reached its sixth consecutive all-time closing high on upbeat economic data, and European shares ended higher on a rally in crude prices. Investors now eye Friday's much-anticipated employment report.
The market remains short term up, but a close over 34411 is needed to continue advances. If trade struggles to extend over 34411, be prepared for minor setbacks. Any corrective trade should fight to hold inside last Wednesday’s range to maintain the upside momentum forces of the drive. A close under 34006 signals for a downturn to test 33071.