·       Daily Swing Chart Technical Analysis

The main trend is up according to the daily swing chart. The index is currently trading inside yesterday’s range. This indicates early trader indecision and impending volatility.

A trade through 2849.50 will signal a resumption of the uptrend. A move through 2792.50 will change the main trend to down. Minor bottoms come in at 2789.75 and 2765.75.

The short-term range is 2792.50 to 2849.50. Its retracement zone at 2821.00 to 2814.25 is the first downside target. Since the trend is up, buyers could show up on the first test of this zone.

The main range is 2693.25 to 2849.50. If the trend changes to down then we could see a test of its retracement zone at 2771.25 to 2755.25. Even with the change in trend, buyers could still come in on a test of this zone because it represents value.

The Major Contract Retracement Zone is 2755.25 to 2713.75.

·       European stocks jumped in early trading on Thursday following a breakthrough in U.S.-EU trade talks, buoying shares in carmakers as the market digested a flurry of company earnings reports.

The pan-European STOXX 600 was up 0.4 percent by 0720 GMT, while Germany’s exporter-heavy DAX, which has come under pressure due to uncertainty over global trade, rose 1 percent.

·       Asian shares inched up n Thursday as the United States and Europe agreed to negotiations to ease barriers on trade, but weakness in China markets underscored persistent worries about the outlook for global growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent.

·       Most Japanese shares closed higher on Thursday on upbeat earnings and easing concerns about trade tensions, though the Nikkei benchmark softened on speculation the central bank might trim buying of exchange traded funds linked to the index.

The broader Topix ended the day at five-week highs at 1,765.78, rallying 0.7 percent, with more than 1,700 out of 2,100 listed shares posting rises.

Despite gains for many counters, the Nikkei average shed 0.12 percent to 22,586.87 after the Nikkei newspaper reported the BOJ will consider reducing its purchase of Nikkei-linked ETFs and increase buying in Topix-linked ones at next week’s rate review.

·       China stocks ended lower on Thursday as months of see-sawing U.S.-Sino trade friction stoked uncertainties over the country’s economic growth, prompting investors to take a cautious stance.

The blue-chip CSI300 index ended down 1.2 percent at 3,536.25 points, while the Shanghai Composite Index closed down 0.7 percent at 2,882.23 points.