Quiet start of the week as lockdowns continued to expand over the weekend and the US failed to agree on the virus rescue plan last night. The S&P broke the 2346 support from Dec 2018 after we went home Friday and although futures were pointing down the whole morning, they bounced (on the back of the Fed’s comments) and are trading up +2.6%. Here in Europe, key supports remain 15000 on the FTSE MIB and 5000/4900 for the FTSE 100. Volumes are lower across the path as we are seeing all indices trading well below their 1d, 5d and 20d turnover AVATs.
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