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US Futures marginally positive but Europe reverses early Gains following Stress Test results

S&P still marginally positive though down by 7 ticks from last nights highs, bonds selling off to give back some of last Fri gains..  Crude has reversed early gains and now fractionally negative with Gold while most of Europe has given up early gains and also down today- Key to note:  MSCI Emerg Mkts index up more than 1.2% with gains in Taiwan, Turkey and Phillipines while Indonesian stocks rallying more than 2.8%.  HSCEI also climbing 1.9% the most since mid-July-   UK manufacturing data falls the most in 3 years while New orders drop the most in 18 years, as possible BREXIT fallout and Sterling down fractionally today-   Stress test results on European banks resulting in declines of 5% or greater in Bank of Ireland, Unicredit , Banca Popolare did Milano, Banco popular Espanol and Raiffeisen. so after the biggest advance in STOXX 600 since last October, we're seeing European bank index reverse most of last Friday's gains and something which could also affect US financials with Rates higher today-   Overall, trend still largely range-bound in US, S&P up to highs of range but Midcap index breaking out to new highs keeps trend still bullish for US while Bloomberg World index also up to highest since 2015-  Goldman turning cautious on 3 month basis along with Gundlach "Sell everything" but price wise it looks early on a day to day basis to make any sort of bearish call based on price action alone-   Key for today will be 2174-5 for S&{ then 2180 while on downside-  2165 pivot and 2160-1 first support than 2151-  Advancers premkt today: FLTX, MEET, CZR, HRTX, EMC, while on downside-  KERX, TKAI, SCTY (TSLA deal), RIG, CTXS-   Let me know if you have questions

Attempted early breakout failed in S&P while most of Europe has reversed at key resistance-  For now, movement above 2185 is needed for clarity as to an upside move

DAX reversed this am as European bank stress test results coincided with Bank reversals- Area near 10500 key for DAX to think this can breakout of its 16 mth downtrend