US stock markets are closed for Presidents' Day (officially Washington's Birthday), so European equities are center stage, states Ian Murphy of MurphyTrading.com.
The pan-European STOXX600 (bottom right below) closed at an all-time high on Friday and gapped up this morning after Valentine’s weekend.
Indices on the continent have lagged their US counterparts of late but bullishness is back. The FTSE 100 (bottom left) is particularly strong and is set to close above its 1ATR line for the first time in a month as the City brushes off Brexit and Covid woes.
US equity index futures are trading today and were a sea of green at 06:20 ET building on the bullishness of last week. Market participants on both sides of the Atlantic are smitten with equities and new highs roll in day after day. How long this party will last is anyone’s guess, but things are looking rosy for the moment.
Stay safe and trade safe!
Learn more about Ian Murphy at MurphyTrading.com.
