STOXX600 breakout supports bullish US outlook

The upside breakout of the Europe STOXX 600 from long-term resistance bodes well for a continued rally of the S&P500 above 2000 due to the close correlation between the two indices, says Ari Wald at Oppenheimer. The STOXX600 has also broken significantly above its 200-day moving average in reaching new multi-year highs.

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